In a significant turn of events, Tigran Gambaryan, Binance’s head of financial compliance, has had his bail request denied for the second time as he faces money laundering charges in Nigeria. The trial commenced amid concerns over his health and the conditions of his detention.
Gambaryan, an American citizen, has been held in a Nigerian prison since late February, a period marked by claims from both him and Binance that the allegations against them are unfounded. During the recent court proceedings in Abuja, Gambaryan sought release on medical grounds, emphasizing the need for surgery that cannot be performed within the prison. However, Judge Emeka Nwite dismissed these concerns, asserting that the Nigerian Correctional Service is equipped to manage his health issues.
The judge further noted that Gambaryan had not withdrawn a previous bail appeal, indicating that his latest request represented an abuse of the judicial process. Consequently, the trial has been postponed until October 18, following a session in which Gambaryan’s legal team cross-examined two witnesses.
In a heartfelt statement, Gambaryan’s wife, Yuki, expressed her anguish over her husband’s situation, emphasizing his lack of decision-making authority at Binance. She vowed to continue advocating for his release, lamenting the toll this ordeal has taken on their family. “I just pray that when he is finally released, the damage he is suffering is not permanent. I am exhausted and deeply disappointed,” she said.
Meanwhile, Binance faces separate allegations of tax evasion, which it continues to contest. The unfolding saga raises pressing questions about the intersection of cryptocurrency regulation and the legal frameworks within which these global entities operate.
