The Federal Government has dropped all charges against an executive at Binance Holdings, identified as Tigran Gambaryan on health grounds.
Recall that the Economic and Financial Crimes Commission, in April this year, arraigned the cryptocurrency firm, and Gambaryan over alleged money laundering.
INFORMATION NIGERIA reports that the United States citizen, had been in detention since February following the clampdown on the firm over alleged manipulation of naira.
Meanwhile, on Wednesday, EFCC’s counsel, R. U. Adagba, told Justice Emeka Nwite of the Federal High Court, Abuja, that FG’s decision to withdraw the charge against the detained employee is because of his deteriorating health.
She, informed the court that the anti-graft agency would continue the charge levelled against the company, Binance.
The hearing is coming two days before the 25 October earlier scheduled as the return date by the trial judge in the open court last Friday.
READ MORE:Â Court Strikes Out Tax Evasion Charge Against Binance Executives
Counsel to Gambaryan, Mark Mordi, agreed with the prosecution, saying that his client was not involved in the company’s broader financial decisions.
Justice Nwite, had rejected his second bail application on 11 October, ruling that Mr. Gambaryan’s grounds of ill health were not sufficient to release him from detention.
The judge then fixed 18 October for continuation for trial but Gambaryan was absent on health grounds, according to prison.
The judge then rescheduled the trial for 25 October, which appears to have now been overtaken by the event of Wednesday’s unpublicized hearing.
