KEY POINTS
- Binance executive Tigran Gambaryan has had the Federal Government’s money laundering charge dropped.
- Diplomatic insurance and deteriorating health saw him discharged.
- Binance Holdings Limited will continue to fight their case in court next Nov. 22 and Nov. 25.
The Federal Government has dropped money laundering charges against Binance Holdings Executive Tigran Gambaryan, in view of his ill health and as a result of diplomatic intervention.
Binance the 1st defendant, was facing the charges together with Gambaryan the 2nd defendant whose own name had also been mentioned in the initial suit filed by the Economic and Financial Crimes Commission (EFCC).
Gambaryan: FG withdraws charges
In a Federal High Court in Abuja, EFCC counsel R. U. Adagba told Justice Emeka Nwite that the government had decided to drop the charges against Gambaryan because of his ill health.
The case against Binance Holdings Limited, which runs the cryptocurrency platform, will continue as planned, she noted.
Binance Holdings will continue the trial
Justice Nwite discharged Gambaryan from the charges after hearing from both the prosecution and defence teams. The trial against Binance Holdings Limited is set to remain active on November 22 and November 25, however.
According to The Punch, The charges relate to allegations of the cryptocurrency platform was being used for money laundering.
