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Market News

Binance Executive Collapses in Court Amid Money Laundering

Written By Brian Mutembei
Published 2024-05-24·Updated 2 years ago
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Binance Executive Collapses in Court Amid Money Laundering

Tigran Gambaryan, a detained executive of Binance, collapsed in an Abuja Federal High Court during a trial for alleged money laundering. The incident happened while Gambaryan was being escorted to the dock, so his lawyer informed the court about his poor health and asked for a postponement.

Gambaryan, facing charges related to money laundering, reportedly fell ill shortly after the trial was called to continue. His lawyer, Mark Mordi, SAN, informed the court that Gambaryan was indisposed and presented a written application. The defendant was assisted to a seat and could not stand during the proceedings.

The case, adjourned previously due to Gambaryan’s absence, was further delayed due to his health condition. The judge had denied his bail application because of concerns about him fleeing.

The Federal Inland Revenue Service (FIRS) has accused Gambaryan and Binance Holdings Limited of tax evasion. The case faced setbacks earlier when Gambaryan was not produced in court by the Nigeria Correctional Service. The FIRS requested an adjournment to investigate the reasons behind the non-appearance. The presiding judge has given June 14 to advance the case further.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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