The recent court proceedings involving Tigran Gambaryan, a Binance executive facing serious charges, were marked by confusion and concern as he failed to appear due to reported health issues. Gambaryan, who has been detained in Nigeria since February 2024, is embroiled in a legal battle concerning allegations of money laundering linked to Binance.
During the hearing at the Federal High Court in Abuja, Gambaryan’s absence raised alarms among the legal teams present. The judge, Emeka Nwite, sought clarification from Gambaryan’s lawyer regarding his client’s whereabouts. The lawyer expressed uncertainty, prompting the judge to question officials from the Nigerian Correctional Service (NCoS) about the situation.
Officials eventually confirmed that Gambaryan was in their custody but did not provide clarity on why he was not produced for the trial. The court was informed that Gambaryan’s health had deteriorated, leading to concerns about his ability to participate in the proceedings. As a result, the judge adjourned the case to October 25 for a report on Gambaryan’s health status.
Gambaryan faces multiple charges related to money laundering and currency speculation, with allegations involving over $35 million generated through Binance’s operations in Nigeria. His bail application has been denied multiple times, with the court citing concerns about him being a flight risk, especially after a co-defendant, Nadeem Anjarwalla, escaped custody earlier this year.
This ongoing legal saga highlights the increasing scrutiny faced by cryptocurrency exchanges like Binance in Nigeria. The Nigerian government has accused the platform of impacting foreign exchange rates and has intensified regulatory measures against it. As Gambaryan’s case unfolds, it is expected to draw significant attention both locally and internationally, potentially influencing regulatory approaches towards crypto operations in Nigeria.
