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Market News

Nigerian court denies bail for Binance exec Tigran Gambaryan

Tigran Gambrayan's family has lost faith in the system and not surprised by the decision.

Written By Jahnu Jagtap
Published 2024-10-11·Updated 2 years ago
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Nigerian court denies bail for Binance exec Tigran Gambaryan

Tigran Gambrayan’s family has lost faith in the system as the Nigerian court rejected a bail application for Binance executive, that cited health concerns. Judge Emeka Nwite has instead ordered the prison to send him to a hospital for treatment.

Judge Nwite reportedly directed that the Binance CEO should remain in prison despite his deteriorating health since such a condition “does not entitle them to leave custody.”

Gambaryan’s lawyer, Mark Mordi, had pleaded that his client be granted bail to allow him to seek medical help for a herniated disk that was making walking difficult for him. Gambaryan arrived at the court in a wheelchair, where he remained for the hearing.

Gambaryan would be allowed to leave only if his continuous stay harms other detainees and quarantine isn’t available.

Gambaryan’s family is “not surprised” by the decision, as his wife said it’s “completely unjust to deny someone in Tigran’s condition the opportunity to seek appropriate medical help.”

Binance CEO Richard Teng claimed in a blog that its team was asked for a “secret” payment to make its problems go away while they were in Abuja in January. Nigerian authorities obviously rejected the allegation, calling it a tactic to divert attention away from Binance’s activities.

Also Read: “This is So Fu**ed Up”: Binance Executive limps his way to court in Nigeria

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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