The Federal Government announced the withdrawal of money laundering charges against Binance's senior executive, Tigran Gambaryan, citing health and diplomatic considerations.

Charges Against Gambaryan Dropped

The Federal Government has dropped money laundering charges against Tigran Gambaryan, a senior executive of Binance. The Economic and Financial Crimes Commission (EFCC) had previously filed charges amounting to $35 million. The court heard the government's decision to retract the charges based on health and diplomatic grounds. It was revealed that Gambaryan requires surgery, and his health condition would slow down legal proceedings.

Prosecution's Stance on the Case

Charges against Binance Holdings Limited remain active. However, Gambaryan’s release does not imply acquittal or lack of evidence but is strictly due to his health condition. The defense requested a full acquittal, but the prosecution stressed that the case remains unresolved.

Health Concerns and Legal Proceedings

Gambaryan’s health issues have raised concerns in court. The defense requested an adjournment to address his health condition. Later, it was confirmed that Gambaryan is undergoing medical treatment at a hospital.

Charges against Gambaryan have been dropped, but the case against Binance Holdings continues, with the next hearing scheduled for November.