The Federal Government has dropped all charges against Binance Holdings executive Tigran Gambaryan on health grounds.
Gambaryan had been detained since April, facing trial for money laundering.
However, during a hearing at the Federal High Court in Abuja, before Justice Emeka Nwite, the Economic and Financial Crimes Commission (EFCC) announced the withdrawal of the charges.
The hearing took place two days before the originally scheduled return date of October 25.
The EFCC lawyer explained that Gambaryan, a U.S. citizen, was merely an employee of Binance and not involved in the financial activities for which he was being prosecuted.
Gambaryan’s counsel, Mark Mordi, supported the prosecution’s position, emphasizing that his client was not responsible for the company’s broader financial decisions.
Earlier, Justice Nwite had denied Gambaryan’s second bail application on October 11, ruling that his health concerns were insufficient for release.
The trial was initially set to continue on October 18, but Gambaryan was absent due to health issues, leading the judge to reschedule the trial for October 25.
However, the unpublicized hearing held on Wednesday resulted in the case being dismissed.