Tigran Gambaryan, the Binance executive who was detained in
Nigeria for nearly eight months last year, is leaving the crypto exchange.
Gambaryan’s exit as the firm’s head of financial crime
compliance officer comes months after his release amid broader regulatory
challenges facing Binance globally.
The executive, also a former United States Internal Revenue
Service agent, was arrested in Nigeria in February 2024, following a clampdown
on Binance over an alleged manipulation of the Nigerian currency.
According to a report by Bloomberg, a message was sent to
the publication on his last day with the firm.
“Tigran has made a lasting impact on Binance, just as he did
in his previous roles in law enforcement,” a Binance spokesperson confirmed
Gambaryan’s exit in a statement.
“We are deeply grateful for his dedication in transforming
our financial crimes compliance organization. Thanks to his tireless efforts,
the crypto industry is safer for all.”
BACKGROUND
In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance and Gambaryan (who joined the company in 2021) on allegations of money laundering.
On May 17, the court refused Gambaryan’s first bail request.
The Binance executive later collapsed in court due to “ill-health”.
Gambaryan’s legal team and his family raised alarm that he
could die in Kuje prison if his health continues to deteriorate.
Yuki, Gambaryan’s wife, claimed his health was getting
worse, stressing the need for a “highly specialised and risky surgery”.
Gambaryan’s health had led Emeka Nwite, a judge, to issue an
arrest warrant against Abraham Ehizojie, a medical doctor at the health
facility in Kuje correctional centre, over his failure to produce the
executive’s medical report.
On September 2, the EFCC objected to the health claims made
by the Binance executive after Iheanacho filed a counter-affidavit application.
Mark Mordi, counsel to Gambaryan, informed the court of
another bail application — which was filed on August 28 — seeking his client’s
release on medical grounds.
However, the prosecution filed a counter-affidavit opposing
the bail application.
Ekele Iheanacho, the EFCC counsel, said he has perused the
defendant’s medical records and his health challenge “is not as serious” as it has
been portrayed.
On October 23, 2024, the EFCC told the court the anti-graft
agency was dropping its case against Gambaryan due to some reasons, including
critical international and diplomatic.
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