Breaking: Federal Government Drops Money Laundering Charges Against Binance Executive

| By Adejumo Adekunle –

The federal government has dropped the money laundering charges previously filed against Tigran Gambaryan, an executive of Binance Holdings Limited.

The Economic and Financial Crimes Commission (EFCC) had initially arraigned Binance, a cryptocurrency company, and Gambaryan in April over alleged money laundering activities.

Gambaryan, a U.S. citizen, had been detained since February following a crackdown on Binance due to suspicions of naira manipulation.

At a Federal High Court session in Abuja on Wednesday, the EFCC’s lawyer announced the withdrawal of the charges, clarifying that Gambaryan was only an employee carrying out his duties.

More updates to follow.