Nigerian Government Drops $35 Million Money Laundering Charges Against Binance Executives

The Federal Government of Nigeria has withdrawn money laundering charges against Tigran Gambaryan, Binance’s US head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s British-Kenyan regional manager for Africa.

Initially, the Economic and Financial Crimes Commission (EFCC) accused Gambaryan and Anjarwalla of laundering $35 million. The duo was detained by the National Security Adviser’s office.

However, Anjarwalla escaped custody on March 22, 2024. Gambaryan was arraigned in April and remanded to Kuje Correctional Facility.

Key Developments:

– The Nigerian Government dropped the money laundering charges.

– Gambaryan and Anjarwalla were accused of laundering $35 million.

– Anjarwalla escaped custody, while Gambaryan was arraigned and remanded.

– Binance faced additional charges, including tax evasion and operating without a license.