On Wednesday, Binance executive Tigran Gambaryan made his second appearance in court this week. The American, who has been held in custody in Nigeria for more than six months, appeared in court earlier this week and was scheduled to have a hearing on a bail application filed by his attorneys earlier this week.
In response to a further bail request by Gambaryan’s attorneys on medical grounds, the prosecutor for Nigeria’s Economic and Financial Crimes Commission (EFCC) rejected it, claiming the US CEO is not in poor condition. However, the prosecution also asserted, according to a spokesman for the Gambaryan family, that he is refusing therapy, which doesn’t fit up.
Earlier this week, a worried Gambaryan was seen trying to enter the courthouse in a video that was posted on X. A spokesman said he was unable to operate his wheelchair. Moreover, Gambaryan in the video claims that authorities were instructed not to provide assistance.
Rep. French Hill, who traveled to Gambaryan in Nigeria earlier this summer, described the situation as “outrageous” in a tweet earlier on Wednesday.
This is outrageous. It's clear Tigran's condition is rapidly deteriorating – the Nigeran government must release him immediately. https://t.co/lzmfUalcBb
— French Hill (@RepFrenchHill) September 4, 2024
Inhumane treatment should end—Binance CEO
Richard Teng, CEO of Binance, posted the video and demanded a halt to the “inhumane treatment.” Earlier this week, Gambaryan informed a Nigerian judge that he is not getting proper medical attention and that he has not been able to get in touch with his legal counsel or embassy agents.
Nigerian authorities also pursued tax evasion accusations against Binance and Gambaryan; however, they withdrew the particular allegations against Gambaryan during the summer.
Shortly after Gambaryan’s arrest, Binance terminated support in Nigeria before to the start of any of these trials.
Teng stated in a blog post last week, It’s important to note that Binance has never had a significant presence in Nigeria. According to the government, they earned $26 billion from Nigeria in 2023. He said that this is untrue. The overall transaction volume for 2023 is $21.6 billion. To put transaction volume into perspective, $1 million would be the amount of transactions made if someone took $1,000 and traded it 1000 times.
Representative French Hill, a crypto-friendly lawmaker, also urged the White House to get involved in Gambaryan’s case. Rep. Hill argued for the executive’s release after visiting him in jail in June with colleague lawmaker Chrissy Houlahan. He referred to the issue as a political conflict in Nigeria.
In the meantime, Gambaryan’s wife has voiced concerns about the long-term effects of his imprisonment. In a statement released on September 2, Gambaryan could hardly walk, and he was also refused legal representation.
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