End to 8-Month Nightmare: Binance’s Head of Financial Crime Compliance Released from Nigeria Detention

In a move that brings an end to an 8-month period of detention, Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has been released from detention in Nigeria. According to a statement by Binance, Gambaryan, an American citizen, has returned home to his family after being held in detention for eight months. The cryptocurrency exchange described Gambaryan’s detention as "unlawful" and noted that his health had suffered significantly during his time in prison.

The development follows a Federal High Court ruling in Abuja on Wednesday, which dismissed money laundering charges against Gambaryan that were brought by the Economic and Financial Crimes Commission (EFCC). Gambaryan’s health had taken a turn for the worse, with the Nigerian Correctional Service indicating that his condition had worsened to the point where he could hardly walk without a wheelchair.

Reacting to the news, Gambaryan’s wife, Yuki, expressed relief that the ordeal was finally over. "It’s a huge relief that this day has finally come," she stated. "The past eight months have been a living nightmare." Yuki continued, saying that the road ahead for her husband’s recovery will be a difficult one, but that she is grateful for the opportunity to focus on healing as a family.

The U.S. government has been credited with playing a role in securing Gambaryan’s release. Yuki Gambaryan expressed her deepest gratitude, saying, "I want to express my deepest gratitude to the U.S. government for their efforts in securing his release." She also thanked those who supported the family throughout the ordeal, acknowledging that there were times when it seemed like the day of her husband’s release would never come.

Gambaryan and his colleague, Nadeem Anjarwalla, were detained by Nigerian authorities in February and charged with money laundering involving $35 million. While Anjarwalla managed to escape custody in March, Gambaryan was arraigned in court in April. The dismissal of charges against Gambaryan brings an end to a chapter in a saga that has captivated cryptocurrency enthusiasts and experts alike.

As Gambaryan begins the long road to recovery, his family can breathe a sigh of relief. The reunion of Gambaryan with his family, particularly his children, is a welcome development after a period of uncertainty and hardship.