BINANCE: Gambaryan’s Illness Not That Serious, EFCC Lawyer Tells Court

The Economic and Financial Crimes Commission (EFCC) has said the health condition of detained Binance executive, Tigran Gambaryan, is not as bad as it is presented to be.

The Federal Government accused Binance Holdings Limited of concealing the origin of their alleged unlawful financial proceeds, totalling $35,400,000, an act contrary to the Money Laundering (Prevention and Prohibition) Act.

Binance is also accused of tax evasion, operating without a licence and regulatory compliance.

At Monday’s proceedings, Gambaryan’s lawyer, Mark Mordi, informed the court that he had on August 28, 2024, filed a fresh bail application, saying his client’s health was deteriorating.

He asked that the bail application be heard today so that his client can have access to proper medical treatment.

Mordi lamented that Gambaryan’s medical record is yet to be produced, despite the order of court that it should be produced.

“We have asked that his medical record to be provided, but his heath is deteriorating, he cannot move without assistance, he moves with crutches now.

“It is unfortunate that this is happening in Nigeria today” Mordi told the court.

Representing the EFCC, Ekene Iheanacho told the court that he had filed a counter affidavit to the bail application.

He said he has seen Gambaryan’s medical records, and from his review, Gambaryan’s health challenge “is not as serious” as they are portraying it to be.

“My Lord, I don’t want to go into detail about this issue. Ordinarily, the defendant has been living with this condition for the past 12 years before he came to Nigeria, it is not a new issue.”

Ihenanacho said Gambaryan is properly taken care of in custody and that the only issue concerned failure to present his medical records.

He added that the Binance CEO walks within the correctional facility.

He argued that it was unfair for Binance to paint the picture of Gambaryan not being properly cared for.

In his submission, Gambaryan’s lawyer, Mordi, admitted that Gambaryan has had the disk condition for 12 years but said his lack of proper care was worsening his situation.

Justice Emeka Nwite adjourned the matter to September 4.

Earlier, the failure of the Central Bank of Nigeria (CBN) to produce all required documents stalled the hearing of the ongoing Money Laundering trial against the fintech company, Binance Holdings Limited and it’s executives.

In the document titled Subpoena Duces Tecum, with charge number: FHC/ABCR/138/2024, between the Federal Republic of Nigeria versus Binance Holdings Limited and Tigran Gambaryan, the court asked the apex bank’s heads to appear before it or delegate someone to do so, to produce vital documents needed in the ongoing case.

However, Counsel for Binance, Tonye Krukrubo, SAN, informed the court that the CBN handed them some documents in relation to the case, but that the documents were not all that the court subpoenaed them to produce.

Representing the EFCC, Emeka Iheanacho said it is not his duty to compel the CBN to produce documents to the court, having been called in by the defence lawyer.

Justice Nwite, therefore, instructed that the CBN produce the remaining documents on September 4, which is the next adjourned date.

Tigran Gambaryan was one of two Binance executives arrested on arrival in the country on February 26, 2024, after being accused of money laundering through their platform and has been in custody ever since.

Gambaryan’s colleague, Nadeem Anjarwalla, the regional manager for Binance in Africa on March 24, escaped from custody using a smuggled passport.

However, the family have continued to plead for Gambaryan’s release on health grounds, expressing fear he might not be able to walk again.

BINANCE: Gambaryan’s Illness Not That Serious, EFCC Lawyer Tells Court is first published on The Whistler Newspaper