The Federal High Court sitting in Abuja, on Wednesday, ordered the release of Mr Tigran Gambaryan, the detained Binance Holdings Limited’s executive, from Kuje Correctional Centre.
Justice Emeka Nwite gave the order following the withdrawal of criminal charge filed against him by the Economic and Financial Crimes Commission (EFCC).
EFCC lawyer counsel, R. U. Adagba, at the resumed trial that was brought back from Friday to Wednesday, informed the court of the decision of the federal government to withdraw the charge against Gambaryan.
Adagba, who held the brief of Ekele Iheanacho, SAN, premised the decision on Gambaryan’s deteriorating health and the diplomatic intervention.
Gambaryan was the 2nd defendant in the charge preferred against him and his employer Binance Holdings Limited the cryptocurrency platform. (1st defendant) by the EFCC.
Binance Holdings Ltd and Gambaryan were arraigned on April 8, 2024 before Justice Emeka Nwite of a Federal High Court Abuja.
They were arraigned on a 5-count charge specifically for alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).
Justice Nwite rejected his application for bail twice during two previous sessions and on Oct. 18, fixed Friday, Oct. 25, for a report on Gambaryan health status after his absence in court on the ground of his ill health.
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.
Our reporter learnt that the matter was brought back and rescheduled for today due to the urgency of the case following diplomatic intervention..
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 assistant of wheelchair.
Adagba said besides his ill-health, Gambaryan needs to undergo a surgery which surgery and recovery would take some time that may 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 deiplomatic and international meetings by F
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.
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 and 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.