Court orders release of Binance executive, Gambaryan from Kuje prison

An Abuja Federal High Court has ordered the release of Tigran Gambaryan from Kuje Correctional Centre.

Justice Emeka Nwite issued the order following the Economic and Financial Crimes Commission’s (EFCC) decision to withdraw money laundering charges against Gambaryan on diplomatic and medical grounds.

Gambaryan and Binance Holdings Ltd were arraigned by the EFCC on April 8, on five charges, including alleged tax evasion, currency speculation, and money laundering of $35.4 million.

On October 18, Justice Nwite adjourned the case to October 25, to receive a report on Gambaryan’s health. This adjournment followed a report from an officer of the Nigerian Correctional Service (NCoS) informing the court that Gambaryan’s absence at the previous hearing was due to ill health.

At the resumed hearing today, EFCC counsel Adagba informed the court of the Federal Government’s decision to withdraw the charges against Gambaryan, citing his deteriorating health.

Adagba explained that Gambaryan’s condition had worsened to the point that he could only move with the aid of a wheelchair. The court was also told that Gambaryan requires surgery, and the recovery period would likely delay the proceedings.

Read also: UPDATED: FG drops charges against Binance executive, Gambaryan, on diplomatic grounds

Furthermore, Adagba noted that Gambaryan, a U.S. citizen, was merely an employee of Binance Holdings Ltd, whose role in the matter had no significant impact on the case.

“I urge the honourable court to discharge the 2nd defendant accordingly in line with Section 108(1), (2)(a) of the Administration of Criminal Justice Act (ACJA), 2015,” Adagba submitted.

Neither Binance’s lawyer, Olujoke Aliu, nor Gambaryan’s counsel, Mark Mordi, objected to the application. However, Mordi requested that the court not only discharge Gambaryan but also acquit him, given that the government acknowledged his limited involvement.

Delivering the ruling, Justice Nwite granted the prosecution’s request, ruling “That the application of the prosecution’s counsel is granted as prayed having reviewed the circumstances of the charge. “That this charge is, hereby, struck out against the 2nd defendant (Gambaryan).
“That the 2nd defendant is hereby discharged.
“That an order of this honourable court is hereby made for the immediate release of the 2nd defendant from Nigerian Correctional Service, Kuje.”