Oct. 23, 2024

A Federal High Court in Abuja, on Wednesday, ordered the release of Mr Tigran Gambaryan, the detained Binance Holdings Limited’s executive, from Kuje Correctional Centre.

Justice Emeka Nwite gave the order after the Economic and Financial Crimes Commission (EFCC)’s counsel, R. U. Adagba, informed the court of the decision of the Federal Government to withdraw the charge against Gambaryan.

Adagba, who held the brief of Ekele Iheanacho, SAN, premised the decision on Gambaryan’s deteriorating health and the diplomatic intervention.

Gambaryan was the 2nd defendant in the charge preferred against the cryptocurrency platform (1st defendant) by the EFCC.

The EFCC had, on April 8, arraigned Binance Holdings Ltd and Gambaryan before Justice Emeka Nwite of a Federal High Court sitting in Abuja.

They were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).

Lawyer to Binance, Olujoke Aliu, and Gambaryan’s counsel Mark Mordi, SAN, did not oppose the application.

However, Mordi, who told the court that since one of the reasons for withdrawal of the case was that Gambaryan was just an employee of Binance, urged the court to make an order for his client’s acquittal and not a discharge.

Delivering the ruling, Justice Nwite granted Adagba’s application.

“It is hereby ordered as follows:
“That the application of the prosecution’s counsel is granted as prayed having reviewed the circumstances of the charge.

“That this charge is hereby struck out against the 2nd defendant (Gambaryan).

“That the 2nd defendant is hereby discharged.

“That an order of this honourable court is hereby made for the immediate release of the 2nd defendant from Nigerian Correctional Service, Kuje,” the judge ruled.

He consequently adjourned the matter until Nov 22 and Nov. 25 for continuation of trial.

Gambaryan was again not in court.(NAN)