Nigerian Court’s Upcoming Decision on Binance Executive’s Bail
A Nigerian court is set to determine the fate of Binance executive Tigran Gambaryan on October 9, as he has been in detention for over six months. His case is attracting significant attention within the financial and legal sectors due to the implications it may have on the cryptocurrency industry.
Postponed Ruling Following Extended Hearing
According to a recent report by Bloomberg, the court in Abuja has delayed its ruling until October after hearing several hours of arguments from both the defense and the prosecution. Gambaryan, who formerly led financial crime compliance at Binance, faces serious allegations, including money laundering and currency manipulation.
Health Concerns Highlighted in Bail Request
The request for bail was primarily motivated by Gambaryan’s urgent medical needs. His legal team argued that the medical care available in the Nigerian prison system is inadequate for his condition. They contend that Gambaryan requires specialized treatment that is unavailable in prison facilities.
In contrast, the state prosecutor, Ekele Iheanacho, maintained that the prison hospital, along with another medical facility designated for senior government officials in Abuja, could adequately address Gambaryan’s health issues. This assertion has raised eyebrows, particularly given the seriousness of Gambaryan’s medical conditions.
Family’s Concerns Regarding Treatment
Gambaryan’s family has expressed deep concerns about his deteriorating health. Reports indicate that he was unable to use a wheelchair to navigate court proceedings and had to rely on crutches, despite struggling with visible pain. They reported that he appeared emotionally distressed during the hearings.
The family stated, “They are also deeply concerned about his health conditions, which include a herniated disc, as well as suffering from pneumonia, malaria, and tonsillitis.” They are advocating for his release on humanitarian grounds, emphasizing the need for him to receive proper medical care and to reunite with his family. As noted by Richard Teng, a Binance executive, “This inhumane treatment of Tigran must end, and he must be allowed to go home for medical treatment.” [Link to Tweet]
Legal Challenges and Access Issues
The prosecution initially resisted Gambaryan’s bail application, asserting that he did not display any critical health concerns despite medical records indicating he could require urgent surgery. Compounding the issue, Gambaryan’s legal representatives have encountered obstacles in meeting with him for trial preparations, given the restrictions in Kuje prison, where he is currently held.
As Gambaryan awaits the court’s decision on his fresh bail application, his supporters and family hope for a swift resolution that will allow him to receive necessary medical care. The case continues to shed light on the complex intersection of legal systems and the emerging cryptocurrency market in Nigeria.