Gambaryan


Nigeria's Federal Government on Wednesday, dropped charges against Binance Holdings Limited's Executive,  Tigran Gambaryan and granted him freedom .


At the Federal High Court, Abuja where the Binance Executive was being tried, Mr  R U Adaba, the Economic and Financial Crimes Commission,  EFCC's legal representative delivered the unexpected news that the Federal Government had decided to drop all charges against Gambaryan.


 “This man is just an employee,” Adaba insisted, emphasizing that Gambaryan was not the mastermind behind the alleged crimes. The implication was clear: the fingers pointed at higher-ups in the organization, leaving Gambaryan in the clear.


With  the  stunning turn of events as the Federal Government drops  the  money laundering charges against  Gambaryan, a key player at Binance Holdings Limited, the intriguing case in a assuming  all the drama of a Nollywood blockbuster, leaving onlookers buzzing.


In April, Gambaryan found himself entangled in a web of accusations laid out by EFCC. The charges were hefty, amounting to a staggering $35 million, and were tied to alleged manipulations of Nigeria’s currency, a hot topic that had everyone on edge. Gambaryan’s arrest earlier this year sent shockwaves through the cryptocurrency community, as he remained behind bars while the case unfolded, the shadows of uncertainty looming large.


The courtroom drama escalated further when Gambaryan's co-accused, Nadeem Anjarwalla, who managed Binance’s operations across Africa, made a daring escape from lawful custody on March 22, 2024. The audacity of his flight left many questioning the security measures surrounding high-profile detainees, and it cast a long shadow over Gambaryan, who was left to face the music alone.


In a swift counter, Mark Mordi, Gambaryan’s lawyer, reinforced this narrative, asserting that his client had no hand in the financial dealings that landed the company in hot water. The courtroom atmosphere shifted as Gambaryan’s supporters breathed a collective sigh of relief, hopeful that the tides had turned in their favor.


This decision follows a previous withdrawal of tax evasion charges by the Federal Inland Revenue Service (FIRS) in June, further lifting the weight off Gambaryan’s shoulders. With charges falling away like autumn leaves, one can only wonder: is this the last we’ll hear of this case, or are there more chapters waiting to be written in this unfolding saga of corporate intrigue?


As the dust settles, the world watches closely, eager to see what lies ahead for Gambaryan and Binance. In the fast-paced realm of cryptocurrency, where fortunes can shift in the blink of an eye, the narrative is far from over.