Binance exec leaves Nigeria after authorities drop final charges

Tigran Gambaryan, a Binance executive initially charged with tax and money laundering charges in Nigeria, has left the country after eight months in detention.

In a statement to Cointelegraph, a family spokesperson said Gambaryan left Nigeria on Oct. 23 after authorities dropped money laundering charges against the Binance head of financial crime compliance. Nigeria’s Economic and Financial Crimes Commission charges were the final legal entanglements Gambaryan faced after authorities dropped tax evasion charges in June.

“It is a huge relief that this day has finally come,” Gambaryan’s wife, Yuki, said in a statement. “The past eight months have been a living nightmare. I wish it hadn’t taken this long for his release, or that his health had not declined so much, but we can now focus on healing as a family. I want to express my deepest gratitude to the US government for their efforts in securing his release.”

Gambaryan’s family and reports from Nigeria suggested that the Binance executive’s health had steadily deteriorated since his detainment in February. They reported cases of pneumonia and malaria, as well as a herniated disc that could require surgery. A September video showed Gambaryan struggling to walk to court, prompting outrage from many people, including Binance CEO Richard Teng.

Timeline of events

Binance executives Nadeem Anjarwalla and Gambaryan flew into the capital city of Abuja on Feb. 25 to discuss the crypto exchange’s activities. Nigerian authorities had reportedly been scrutinizing “suspicious flows” through Binance’s local arm, detaining Gambaryan and Anjarwalla on Feb. 26.

In March, Anjarwalla reportedly escaped detention and left Nigeria using his Kenyan passport. Reports suggested that he fled to Kenya, where authorities were considering extradition requests to return him to Nigeria. Authorities in Nigeria charged the two Binance executives with tax evasion.

Amid Gambaryan’s detention on March 5, Binance announced it would discontinue services using the Nigerian naira, effectively exiting the country’s market. Nigeria’s Economic Financial Crime Commission followed by charging Anjarwalla and Gambaryan with money laundering of more than $35 million.

On April 8, Gambaryan pleaded not guilty to the money laundering charges in a hearing at an Abuja courtroom. He was denied bail and sent to Kuje Prison.

Reports of corruption and health problems, calls for release

On May 7, Teng suggested that Nigerian officials may have tried to coerce the exchange’s representatives to pay a settlement to “make these issues go away.” The same month, a Gambaryan family spokesperson reported that he had been suffering from several health problems since being detained, including malaria.

Related: Binance executive collapses during Nigeria trial for money laundering

Calls from US lawmakers and officials intensified in June as reports continued to circulate of Gambaryan’s declining health in Nigerian custody. 

In June, former United States federal prosecutors and agents issued a letter to the State Department asking to ensure the Binance executive’s release, with some lawmakers asking US President Joe Biden to step in. Representatives French Hill and Chrissy Houlahan visited Gambaryan in prison, reporting he was “suffering from the conditions there” and “lost significant weight.”

On June 14, Nigeria’s Federal Inland Revenue Service dropped the tax evasion charges against Anjarwalla and Gambaryan. After weeks of delays in the country’s courts, the final charges alleging money laundering were dropped in October.

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This is a developing story, and further information will be added as it becomes available.