Nigeria Court Denies Binance Exec Tigran Gambaryan’s Bail Plea

In a recent update, the Nigeria Court dismissed the bail plea of Binance Executive Tigran Gambaryan on Friday, sparking market discussions. Notably, the executive has sought bail on his deteriorating health condition amid trials on allegations of money laundering and currency manipulation in the country. However, the court has instructed to refer him to the hospital for his treatment.

Nigeria Court Denies Binance Exec Tigran Gambaryan’s Bail Request

Binance exec Tigran Gambaryan has been detained in Nigeria since February this year, which has gained notable attention globally. Notably, his detention follows allegations of money laundering and currency manipulation involving the top crypto exchange.

Besides, tax evasion charges were also included in the initial phase, which was later dropped. However, amid this, the executive remains in one of the notorious custody, Kuje prison, where terrorist organization members like Boko Haram are also imprisoned.

Meanwhile, he has requested bail referring to his deteriorating health condition, which has been denied by the Nigeria court today, Bloomberg reported. However, the court ordered the prison to refer him to a hospital for treatment.

During his prison time, Gambaryan’s health condition has worsened significantly. He has reportedly developed serious medical conditions like malaria, pneumonia, and tonsillitis. In addition, complications related to a herniated disc have left him relying on a crutch, with urgent surgery required since July.

A Closer Look Into The Case

Mark Mordi, the exec’s lawyer, emphasized the need for medical care that cannot be offered in the prison. Citing all these conditions, he has made a bail plea saying that it is essential for his health and recovery.

His wife, Yuki Gambarayan, expressed deep disappointment over the court’s decision, stating, “It is unjust to deny someone the right to seek medical treatment, especially in Tigran’s condition.” She continues to advocate for his release, fearing that his health issues could result in permanent damage if left untreated.

During his prison time, Gambaryan’s health condition has worsened significantly. He has reportedly developed serious medical conditions like malaria, pneumonia, and tonsillitis. In addition, complications related to a herniated disc have left him relying on a crutch, with urgent surgery required since July.

Mark Mordi, the exec’s lawyer, emphasized the need for medical care that cannot be offered in the prison. Citing all these conditions, he has made a bail plea saying that it is essential for his health and recovery.

Meanwhile, Yuki Gambaryan expressed disappointment over the court’s decision, revealing great concerns over her husband’s health condition. She continues to ask the US support and advocate for his immediate release, worrying that his health conditions could result in permanent damage if left untreated.

US Government Involvement

The case has also caught the eyes of the US government. Last month, the US House Foreign Affairs Committee passed a resolution urging the immediate release of Tigran Gambaryan. The unanimous decision demonstrates the growing international concern surrounding his detention.

As a former U.S. Internal Revenue Service agent, Gambarayan’s imprisonment in Nigeria is viewed as both a legal and humanitarian issue by many observers. In addition to Gambarayan, fellow Binance executive Nadeem Anjarwalla, who was also detained, managed to escape custody in March, further complicating the legal landscape for the top crypto exchange.

These events have fueled speculation about the extent of Binance’s alleged involvement in illegal financial activities within Nigeria. However, this latest rejection of bail plea has further sparked discussions over the Binance exec’s future in Nigeria, especially amid his deteriorating health condition.

✓ Share:

Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.