Gambaryan, along with his employer, Binance, was facing trial before a Federal High Court in Abuja on a money laundering charge.
By Saidu Idris
365Daily – After several denials of bail requests by an official of Binance Holdings Limited, Tigran Gambaryan, who is on trial for money laundering related offences. the Federal Government (FG) has discontinued his prosecution on health grounds and due to diplomatic intervention.
Gambaryan, along with his employer, Binance, was facing trial before a Federal High Court in Abuja on a money laundering and other charges brought against them by the Economic and Financial Crimes Commission (EFCC).
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).
Prosecuting lawyer, R. U. Adagba, during proceedings on Wednesday, October 23, 2024, informed the court that the prosecution has decided to withdraw charges brought against the second defendant, Gambaryan.
She explained that the prosecution’s decision to discontinue further prosecution of the second defendant was informed by his health challenges, adding that recently, they received a report from the Nigerian Correctional Services (NCoS), through the Office of the National Security Adviser (NSA), indicating that Gambaryan’s health had deteriorated to the extent that he hardly walked without the assistant of wheelchair.
Adagba added that the defendant needs to undergo a surgery and post-surgery and recovery would last a long time that may impact on the pace of the trial.
In addition, the government had reviewed the case and had taken cognisance that Gambaryan, a U. S. citizen, was a mere employer of Binance Holdings Ltd, “whose status in the matter has no impact.”
The lawyer equally told the court that the prosecution had taken into consideration of some critical diplomatic and international meetings by Federal Government, hence, the need to discontinue the charge against the 2nd defendant (Gambaryan).
“I urged the honourable court to discharge the 2nd defendant accordingly in line with Section 108(1), (2)(a) of the Administration of Criminal Justice Act (ACJA), 2015,” she prayed.
However, Gambaryan’s counsel, Mark Mordi (SAN), Mordi, who alongside the lawyer to Binance, Olujoke Aliu, did not oppose the prosecution’s decision, urged the court that since one of the reasons for withdrawal of the case was that Gambaryan was just an employee of Binance, it should 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.