Nigerian court denies Binance exec bail amid health concerns
Binance has expressed deep frustration following a Nigerian court’s decision to deny bail to its executive, Tigran Gambaryan.
On October 11, the High Court in Abuja ruled against the latest bail request, citing ongoing legal procedures. The court highlighted that Gambaryan was already appealing a previous bail rejection, rendering the new application inappropriate.
Gambaryan, who has been in Nigerian custody since February, faces serious health challenges, including malaria, pneumonia, and complications from a herniated disc, which has left him in a wheelchair.
Despite these concerns, the court ruled that Nigerian hospitals could provide the necessary care, dismissing any urgent medical need for his release.
The case against Gambaryan stems from allegations of money laundering linked to a $35 million case. Though tax-related charges were dropped earlier this year, the money laundering accusations remain unresolved.
Binance, along with Gambaryan’s family, has expressed growing concern over his deteriorating health.
In a statement, Binance reiterated that Gambaryan was not involved in any decision-making capacity during his visit to Nigeria and criticized the court’s decision as unjust.
They emphasized their willingness to cooperate with Nigerian authorities but called for his immediate release on medical grounds.
Gambaryan’s wife, Yuki, also voiced her worries, fearing the long-term effects of his detention on his health. She described the ruling as unjust and expressed hope that her husband would not suffer permanent damage due to the conditions he is enduring in custody.
