Tigran Gambaryan, Binance’s head of financial compliance, is awaiting a crucial decision on October 9 regarding his bail application.
Since February, Gambaryan has been jailed in Nigeria on grave accusations of currency manipulation and money laundering. Judge Emeka Nwete heard his bail hearing on Wednesday at the Federal High Court in Abuja.
Mark Mordi, the attorney representing Gambaryan, said that the jail system is unable to execute the necessary urgent operation due to Gambaryan’s severe decline in health. Mordi stressed that the Nigerian prison system does not provide the specialized medical care that Gambaryans need.
However, state prosecutor Ekele Iheanacho argued that Gambaryan has been receiving proper medical care at the prison hospital as well as another Abuja facility meant for prominent inmates.
The matter started when Gambaryan and a colleague were taken into custody in February while on a visit to talk about Binance’s adherence to Nigerian laws. The coworker was able to get away, but Gambaryan has stayed under arrest.
Binance’s troubles were compounded in May when the company alleged that Nigerian authorities sought a “secret” $150 million payment to resolve the situation. Nigeria has denied these claims.
In addition to the current legal battle, Binance is also dealing with separate tax evasion charges, which the company denies. The situation has drawn attention from U.S. lawmakers, who have accused Nigeria of unjustly detaining Gambaryan and have called on President Joe Biden to intervene.
On October 9, the ruling on Gambaryan’s bail request by Judge Emeka Nwete will be made public. Gambaryan stays behind bars until then; the court has heard a great deal of testimony from both sides.
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