- As court orders his release from prison
The Federal Government on Wednesday dropped a 5-count charge of tax evasion and money laundering against the detained Binance Holdings Limited’s executive, Mr Tigran Gambaryan on health and diplomatic intervention grounds.
The Federal High Court in Abuja has subsequently ordered the release of Gambaryan from Kuje Correctional Centre upon formal withdrawal of the charges against him
The Economic and Financial Crimes Commission which informed the court of the decision of the federal government premised the decision on Gambaryan’s deteriorating health and 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.
The Binance representative’s bail application was rejected twice by the court.
Justice Emeka Nwite had, on October 18, fixed Friday, October 25, for a report on the health status of Gambaryan.
The development followed an information from an officer of the Nigerian Correctional Service, NCoS, who was in court on the last adjourned date that Gambaryan’s absence in court was due to his ill-health.
The matter was however rescheduled for Wednesday due to the urgency of the case.
Upon resumed hearing, EFCC’s counsel, Adagba, told Justice Nwite of the federal government’s decision to withdraw the charge against the detained employee of Binance because of his deteriorating health.
Adagba recalled that the case could not go on at the last adjourned date as a result of the health condition of the 2nd defendant which, she said, the government had managed effectively.
She, however, said that recently, the report they received from the NCoS, through the Office of the National Security Adviser, NSA, indicated that Gambaryan’s health had deteriorated to the extent that he hardly walked without the assistance of wheelchair.
Adagba said besides his ill-health, Gambaryan needed to undergo a surgery which surgery and recovery would take some time that might impact on the pace of the trial.
He stated further that 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 urge 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.
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 November 22 and November 25 for continuation of trial.
Gambaryan was again not in court.
