Pulse Nigeria is the most followed news and entertainment platform, informing and engaging young Nigerians round the clock, providing updates by the hour.

Pulse Nigeria

The Federal Government has officially dropped the money laundering charges previously filed against Tigran Gambaryan, an executive of Binance Holdings Limited.

FG drops money laundering charges against Binance executive | Pulse Nigeria

Segun Adeyemi

<h2>The Federal Government has officially dropped the money laundering charges previously filed against Tigran Gambaryan, an executive of Binance Holdings Limited. </h2>

The Economic and Financial Crimes Commission (EFCC) had brought the charges against Gambaryan in connection with alleged financial misconduct at Binance, a prominent cryptocurrency firm.

Initially filed in April, the charges accused both Binance and Mr Gambaryan of being involved in <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/local/court-denies-gambaryans-new-bail-request-due-to-abuse-of-process/zxybb0v">money laundering schemes. </a>

Gambaryan, a United States citizen, <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/us-lawmakers-visit-nigeria-push-for-release-of-detained-binance-executive/crxbdeq">had been detained since February</a> as part of the government's clampdown on the company following allegations of naira manipulation within Nigeria's cryptocurrency markets.

A legal representative for the EFCC announced the withdrawal of the charges at a hearing on Wednesday, October 23, at the Federal High Court in Abuja.

"Mr Gambaryan was merely an employee of Binance, and the activities for which he was being prosecuted were part of his role at the company," the EFCC's lawyer explained to the court.

The lawyer further emphasised that Gambaryan had no personal involvement in the financial practices under investigation.

This decision comes after months of legal battles and raised questions regarding the scope of the charges against Gambaryan. His legal team consistently argued that he had no direct role in the alleged manipulation of the naira or any related laundering activities.

This case has drawn significant attention due to its implications for the cryptocurrency sector and the regulation of financial activities linked to digital currencies in Nigeria.

FG drops money laundering charges against Binance executive

Pulse Picks

Business

News

Entertainment

Lifestyle

Politics

Local

Metro

World

News 

Celebrities

Music

Movies

Fashion

Beauty & Health

Relationships & Weddings

Food & Travel

Domestic

International 

Sports 

Celebrity Picks

Pulse Marketing

Explore categories

Influencer Awards

Company Pages

Breaking News & Top Stories | Pulse Nigeria

Video

Checkout our authors for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria 

Authors | Pulse Nigeria

| Pulse Nigeria

Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search Results | Pulse Nigeria

Watch the latest videos across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria