A Nigerian court based in Abuja has denied a bail plea from a Binance executive who was arrested in February for money laundering allegations. The executive filed a bail plea to the court on his ill health, but the court rejected the plea, saying the illness did not meet sufficient grounds.
On Friday, a Nigerian court presiding over Binance’s case rejected an ill health plea petitioned by the executive on ill health. The executive pleaded with the court to instruct the prison to transfer him to a hospital for treatment. However, the court rejected the plea, stating that the ill health plea did not meet sufficient grounds to grant the executive bail.
Nigerian court rejects Binance’s executive Tigran’s ill health bail plea
Nigerian court denies bail for Binance exec despite health concerns
Judge Emeka Nwite ruled that Tigran Gambaryan should stay in prison unless his health condition poses a threat to others and quarantine is unavailable. https://t.co/uM7VlYfzT9
— i.am.mercules (@Mercules_thor) October 11, 2024
A family spokesperson told a news outlet that the Binance executive had undergone countless health issues while in custody and was denied bail despite meeting the standards for an ill health bail issuance. The spokesperson said Gambaryan has a herniated disc in his back that makes his walking impossible without support.
The executive’s health has reportedly deteriorated while in custody, yet no bail plea has been considered. In July, his wife released Gambaryan’s medical report, which concluded the executive was in a bad medical state and needed specialized surgery.
However, Nigerian officials had claimed he was fine weeks before the report was released. His lawyer, Mark Mordi, has continuously battled for his poor state of health and said that he requires surgery.
Nigerian Federal High Court judge Justice Emeka Nwite denied the bail plea. The judge noted that an accused person falling does not warrant their release from custody unless their stay poses a risk to others and “quarantine isn’t available.”
The executive is undergoing trial over allegations of laundering money and manipulating currency value. Tigran Gambaryan was Binance’s head of financial crime compliance, whom US lawmakers say has been unjustly detained.
Congressman Rich McCormick is one of the most prominent advocates pushing for Tigran’s release. A vote in the U.S. Congress Foreign Affairs Committee for a resolution asked the Nigerian government for Garbaryan’s immediate release.
Binance’s Tigran has been in detention since February
Tigran has been held in the country since February, when he and another executive, Nadeem Anjarwalla, flew into Nigeria to negotiate with the country’s officials on the ban on crypto exchanges. Nadeem Anjarwalla and Gambaryan were detained and charged with tax evasion and money laundering. The charges of tax evasion were later dropped later on.
Gambaryan and Anjarwalla were initially detained for fourteen days as per a court order to pave the way for investigations. After the fourteen days elapsed, another hearing was held granting an extension for the detention period.
A Nigerian news outlet reported that Anjarwalla escaped custody after the guards took him to a mosque for prayers. The executive, who was a Kenyan and British dual citizenship holder, allegedly used his Kenyan passport to board a Middle East airline and flee the country. His British passport was confiscated by Nigerian officials immediately after he was detained.
The Nigerian regulatory watchdog waged war on crypto entities operating in the jurisdiction following the massive devaluation of the country’s local currency. The Nigerian naira faced a multi-decade-high devaluation of 29.9% in January, prompting authorities to take action.