Binance executive released after being detained in Nigeria for more than 7 months

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Binance executive Tigran Gambaryan has been released from a Nigerian prison after being held since late February on money laundering and currency manipulation charges, the government’s lawyer said in court on Wednesday.

Nigerian authorities have also rejected the charges against Gambaryan. The latest decision comes after his lawyer unsuccessfully argued for acquittal, but successfully secured his release on health grounds. Gambaryan had been detained at Kuje Correctional Centre, Abuja, since early April, suffering from a herniated disc which limited his mobility.

Gambaryan’s family said he was denied access to a lawyer and necessary medical care, pointing to his deteriorating health while in detention in Nigeria. Last month, U.S. authorities urged Nigeria to release Gambaryan due to his deteriorating health in prison.

Despite dropping charges against Binance executive, government would continue to pursue charges against company over allegations of money laundering, tax evasion and unlicensed mining, government lawyer says .

Nigerian authorities initiated legal proceedings against Binance and two of its executives, Gambaryan and Nadeem Anjarwalla, in February. The legal proceedings began after the arrest of Gambaryan and Anjarwalla. Anjarwalla is currently at large after fleeing police custody.

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