After six months, the Nigerian government has dropped all money laundering charges against Binance executive Tigran Gambaryan.

It comes barely a month after the release of Binance founder and former CEO Changpeng Zhao (CZ) from California’s Lompoc II detention center.

In a recent development, a lawyer representing the prosecuting agency disclosed the withdrawal of the charges at the Federal High Court in Abuja. They withdrew the charges on Wednesday morning after possible “behind-the-scenes diplomatic lobbying” between the Nigerian and US governments.

“Wednesday’s hearing was a climax of the behind-the-scenes diplomatic lobbying that had been ongoing between Nigerian and the US government figures for months for the release of Mr. Gambaryan, who has been denied bail on two occasions because the judge considered him to be a flight risk,” local media reported.

Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

Notably, Mr. Gambaryan is a US citizen. This moved 18 US attorneys general to write a letter demanding that President Biden designate Binance’s Gambaryan as a hostage in Nigeria.

As BeInCrypto reported, they argued that his detention was unlawful. They also said Gambaryan’s holders put him under life-threatening conditions in the African country.

The letter came a day after the trial judge Emeka Nwite determined that October 25 would be the official hearing date. This latest development, coming two days prior to the due date, therefore, adds credence to the possibility of private negotiations, potentially to avoid public attention.

According to the report, the lawyer representing the prosecuting agency announced the withdrawal of the charges at the Federal High Court in Abuja on Wednesday morning. He said Mr. Gambaryan was shouldering Binance Exchange’s activities despite being merely an employee. This was the basis for dropping the charges.

Additionally, Mr. Gambaryan’s legal representative, Mark Mordi, also agreed with the prosecution. He noted that his client was uninvolved with the company’s broader financial decisions.

Gambaryan’s arrest happened on February 26 alongside his colleague Nadeem Anjarwalla. Their arrest was without formal charges after visiting the country on invitation for a supposed business meeting. On March 25, however, Binance said it was aware Anjarwalla was no longer in Nigerian custody.

“To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide,” Binance CEO Richard Teng said.

Mr. Gambaryan was held in Nigeria’s notorious Kuje Prison. He stood trial alongside Binance on five counts of money laundering and currency speculation amounting to $34.4 million.

Nigerian authorities committed to fair treatment despite concerns over Mr. Gambaryan’s health status. Notwithstanding, he still missed an October 11 hearing on grounds of ill health. Meanwhile, the latest development adds to the list of breakthroughs in Binance’s legal troubles after CZ’s release on September 27.

Read more: Who Is Changpeng Zhao? A Deep Dive Into the Ex-CEO of Binance

As this case concludes, however, the exchange is still facing tax evasion charges in a separate case. A different judge of the Federal High Court in Abuja is presiding over this case.

The post Nigeria Drops Charges Against Binance Executive Tigran Gambaryan appeared first on BeInCrypto.

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