🌎 Nigerian Court Denies Bail for Binance Exec Amid Health Woes

A Nigerian court denied bail for Binance executive Tigran Gambaryan, who is facing money laundering charges, despite concerns over his deteriorating health.

A Nigerian court on Friday, Oct. 11, rejected a bail application on medical grounds for Binance executive Tigran Gambaryan, who is facing trial on charges of money laundering and currency manipulation.

Despite denying bail, the court instructed prison officials to refer Gambaryan to a hospital for treatment. U.S. lawmakers have criticized his detention as unjust, while his legal team has repeatedly raised concerns about his deteriorating health, which they say requires surgery.

Health Concerns and Legal Proceedings

In September, Gambaryan’s lawyer Mark Mordi informed the court that the executive has been awaiting surgery since mid-July and that his condition requires urgent care not available in prison. Mordi outlined several health issues affecting Gambaryan, including malaria, pneumonia, tonsillitis, and complications from a herniated disc, which have at times required the Binance executive to use a wheelchair.

Previous Bail Deferrals

The court had previously deferred a bail decision in September before denying this latest request.

Arrest and Detention

Gambaryan, Binance’s head of financial crime compliance, who holds American citizenship, was arrested alongside his colleague, British-Kenyan Nadeem Anjarwalla, by Nigerian law enforcement in February. The two were captured at an Abuja airport after authorities called for Binance representatives to come to the capital city. After their arrest, all naira and peer-to-peer services on Binance in Nigeria were halted.

Anjarwalla’s Escape and Recapture

Anjarwalla fled the country in March using a concealed Kenyan passport. Later, reports surfaced saying Nigerian security forces were able to identify the location of the Binance representative, arresting him in Kenya at the request of the Nigerian Bureau of Interpol.