Binance Exec finally leaves Nigeria after Eight-Month detention

After an intense eight months of detention in Nigeria, the Head of Financial Crime Compliance for Binance, Tigran Gambaryan has finally returned home following a court dismissal of money laundering charges.

Gambaryan’s detainment since February, in connection with alleged $35 million laundering offenses, led to a severe decline in his health, to the point where he could barely walk without a wheelchair.

Binance, the world’s largest cryptocurrency exchange, confirmed Gambaryan’s release and departure, expressing relief as he now heads to receive much-needed medical care.

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Gambaryan’s case drew attention from the global cryptocurrency community and international advocates, particularly as his colleague, Nadeem Anjarwalla, a British-Kenyan Binance executive, escaped custody in March.

The Federal High Court in Abuja had received updates from the Economic and Financial Crimes Commission (EFCC) on Gambaryan’s worsening health, prompting a new urgency in his case. The Nigerian Correctional Service and the National Security Adviser’s Office both confirmed his deteriorating condition, leading to the EFCC’s decision not to proceed with charges.

In a statement, Gambaryan’s wife, Yuki, shared her relief: “It’s a huge relief that this day has finally come. These months have been a nightmare. Although it took a significant toll on his health, we can now focus on healing together as a family.”

She extended gratitude to the U.S. government and others who supported the release effort. As Gambaryan’s family begins his recovery journey, his case underscores the precarious position of foreign executives working in regulatory hotspots globally.

With heightened scrutiny on cryptocurrency regulations worldwide, Gambaryan’s ordeal may mark a pivotal moment for the industry’s approach to compliance, highlighting the risks executives face amid evolving global financial crime laws.