A Binance executive, Tigran Gambaryan, has been released from prison in Nigeria after spending seven months behind bars. The Nigerian government dropped all money laundering charges against him, leaving Binance as the sole defendant in the case.
A Sudden Turnaround
The judge in the case, Emeka Nwite, ordered Gambaryan’s release just two days before his trial, which was scheduled for October 25th. The prosecution requested his release earlier that day, citing “critical international and diplomatic reasons” as well as Gambaryan’s deteriorating health.
The prosecution stated that Gambaryan’s health had been a major concern, and he had been receiving medical care at the correctional facility. They also pointed out that Gambaryan’s role in the case was less significant than Binance’s.
Health Concerns and Previous Rulings
Gambaryan’s release comes after a judge ruled earlier this month that poor health alone is not enough to justify release from custody. The judge had stated that a detainee’s continued stay in prison could only be justified if it posed a risk to others and quarantine wasn’t an option.
A Controversial Arrest
Gambaryan, a former IRS agent, had traveled to Nigeria with a colleague to engage in regulatory talks. However, he was arrested shortly after arriving and charged with money laundering and operating an unlicensed financial institution. His colleague managed to escape the country.
