Binance Executive Detained in Nigeria Seeks Bail Amid Worsening Health

Binance’s head of financial crime compliance and former federal agent Tigran Gambaryan was brought to court as his trial resumed on September 2 after over a month of Nigerian court holidays. His trial was initially slated to resume in November but was pushed ahead to this month.

Gambaryan’s legal counsel motioned to have him out on bail due to worsening health conditions. The opposing counsel fired back at the claims, asking the judge not to grant Gambaryan bail as they feel his health is sound. His medical records say otherwise, showing that he requires surgery. However, his family has stated that crucial medical reports were missing, including MRI scans. Moreover, his records were submitted months after the court had asked the prison to do so. Even more concerning is how the detainment facility has prevented Gambaryan from meeting his defense team, something that is unconstitutional based on Nigerian law.

Gambaryan’s health condition has worsened through his six-month detainment in one of Nigeria’s toughest prison facilities, the Kuje Prison. He remains arrested among members of Boko Haram and others of similar notorious stature.

Pleads to Set Gambaryan Free

Richard Teng, Binance CEO, recently wrote about Gambaryan’s declining health. “Tigran’s physical and mental conditions have deteriorated rapidly, and his situation is now more dire than ever. He is in severe pain and unable to walk due to a herniated disc.” Gambaryan’s wife, Yuki, also spoke about his grave situation in Nigeria. “Between bouts of malaria, pneumonia, and the unimaginable mental toll of his detention, he is now reaching the point of no return.”

Both Teng and Yuki have asked the Nigerian government to let Gambaryan go, as he plays no decision-making role in the company. Gambaryan is detained for money laundering charges brought by Nigerian authorities against Binance. Furthermore, the authorities are going to the extent of blaming Binance’s peer-to-peer exchange facility that lets Nigerians exchange crypto for US Dollars as the reason for the Naira’s value crashing. The national currency has dipped by over 50%.

Image by Dirk Van Elslande from Pixabay

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