Tigran Gambaryan, the Binance executive who was detained in Nigeria for nearly eight months last year, is leaving the crypto exchange.
Gambaryan’s exit as the firm’s head of financial crime compliance officer comes months after his release amid broader regulatory challenges facing Binance globally.
The executive, also a former United States Internal Revenue Service agent, was arrested in Nigeria in February 2024, following a clampdown on Binance over an alleged manipulation of the Nigerian currency.
According to a report by Bloomberg, a message was sent to the publication on his last day with the firm.
“Tigran has made a lasting impact on Binance, just as he did in his previous roles in law enforcement,” a Binance spokesperson confirmed Gambaryan’s exit in a statement.
“We are deeply grateful for his dedication in transforming our financial crimes compliance organization. Thanks to his tireless efforts, the crypto industry is safer for all.”
In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance and Gambaryan (who joined the company in 2021) on allegations of money laundering.
On May 17, the court refused Gambaryan’s first bail request. The Binance executive later collapsed in court due to “ill-health”.
Gambaryan’s legal team and his family raised alarm that he could die in Kuje prison if his health continues to deteriorate.
Yuki, Gambaryan’s wife, claimed his health was getting worse, stressing the need for a “highly specialised and risky surgery”.
Gambaryan’s health had led Emeka Nwite, a judge, to issue an arrest warrant against Abraham Ehizojie, a medical doctor at the health facility in Kuje correctional centre, over his failure to produce the executive’s medical report.
On September 2, the EFCC objected to the health claims made by the Binance executive after Iheanacho filed a counter-affidavit application.
Mark Mordi, counsel to Gambaryan, informed the court of another bail application — which was filed on August 28 — seeking his client’s release on medical grounds.
However, the prosecution filed a counter-affidavit opposing the bail application.
Ekele Iheanacho, the EFCC counsel, said he has perused the defendant’s medical records and his health challenge “is not as serious” as it has been portrayed.
On October 23, 2024, the EFCC told the court the anti-graft agency was dropping its case against Gambaryan due to some reasons, including critical international and diplomatic.
