Binance executive denied bail in Nigeria money laundering case

Source: Reuters.

Tigran Gambaryan, an American citizen, has been in detention in Nigeria since the end of February. He and Binance deny the charges against him.

He had asked the Federal High Court in Abuja to free him on medical grounds, arguing that he needed to undergo surgery outside prison and that his health was deteriorating.

"There is no evidence before this court that the Nigerian Correctional Service cannot handle the health challenges of the accused," Judge Emeka Nwite said.

Nwite also said Gambaryan had not withdrawn an appeal against a previous bail ruling in May and so his latest request "amount to abuse of judicial process to admit the accused to bail while an appeal is pending at the court of appeal".

The judge adjourned the trial to Friday, 18 October 2024, after Gambaryan's lawyer cross-examined two State witnesses.

Gambaryan's wife, Yuki Gambaryan, said her husband should not be in detention because he was never a decision maker at Binance and she would continue to fight for his freedom.

"I just pray that when he is finally released that the damage he is suffering is not permanent. I am exhausted and deeply disappointed," she said in a statement.

Binance separately faces tax-evasion charges, which it denies.