The Supreme Court of the Nigerian State has approved the arrest of Tigran Gambaryan, a Binance Holdings Ltd. Officer rejected his latest bail application for health reasons. The ruling, delivered by Justice Emeka Nwite on Friday, continues Gambaryan’s arrest despite ongoing concerns about his health, as reported by Bloomberg.
Binance’s Gambaryan Lands in Jail
Gambaryan, who works as the head of financial crime compliance at Binance, has been detained at the Kuje Correctional Center in Abuja since February 2024. He faces charges of money laundering and money laundering, cases that have drawn international attention and scrutiny from US lawmakers. who oppose his detention is unjustified.
In his decision, Justice NWite said, “The sick person does not allow him to leave the cell, unless the prisoner harms others and is not available.”
Gambaryan’s legal representative, Mark Mordi, applied for bail citing his client’s deteriorating health, particularly a herniated disk that interferes with his mobility. During the trial, Gambaryan appeared in a wheelchair, emphasizing the seriousness of his condition. “I am not surprised by this decision,” said Yuki Gambaryan, his wife, in a statement. “It is completely unfair to deny someone in Tigran’s condition the opportunity to seek appropriate medical attention.”
The legal team also highlighted that Gambaryan suffers from mental conditions, including depression and anxiety, which they assert cannot be adequately treated within the prison system. Despite this assertion, the Economic and Financial Crimes Commission (EFCC) has opposed the bail application, maintaining that Gambaryan’s continued detention is justified based on the nature of the charges.
The conflict between Nigerian authorities and Binance escalated in February when Gambaryan and his partner Nadeem Anjarwalla were arrested during a visit to Nigeria. Anjarwalla then escaped from custody in early April. Since his arrest, Gambaryan’s life has been largely focused on his defense, with his legal team repeatedly recommending medical intervention.
In July 2024, Gambaryan’s legal team raised serious concerns about his health. These claims were further escalated in August when his health was reported to be deteriorating, leading his family to express concern about his departure and the need for specialized treatment outside of prison.
In September 2024, a legal bail was applied quoting Gambaryan to deteriorate and asked for a six-week bail for treatment. This application is now rejected.
In response to his arrest, Binance has actively tried to secure Gambaryan’s release. The company used its communication forums to campaign when Richard Teng exposed to the blog official was urged to pay for the law in Abuja in January. The allegations were firmly opposed by the Nigerian authorities, which dismissed you as a strategy designed to divert attention to Binance’s operations within the country.
At press time, BNB traded at $567.80.
Featured image from Forbes, chart from TradingView.com
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