Tigran Gambaryan, a senior executive at Binance, was released on Wednesday, October 23, in Nigeria after being detained since February on money laundering charges involving $35 million.
A Nigerian court ordered his release following the government’s decision to drop the charges, allowing Gambaryan to seek medical treatment abroad.
Although his deteriorating health was cited as the reason for his release, the Financial Times reported that diplomatic pressure from Washington played a key role in the case’s dismissal.
Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, had been held at Kuje prison since his arrest.
The Economic and Financial Crimes Commission (EFCC) withdrew its case against him during a court session in Abuja, though Binance continues to face money laundering allegations.
Gambaryan and Binance deny the accusations, and the company’s legal challenges are ongoing, with the trial adjourned until November.
This case follows other legal troubles for Binance. In April, its founder admitted guilt to charges in the U.S. after the U.S. Treasury accused the company of failing to prevent transactions that supported terrorist organizations.
