Binance Executive Denied Bail in Nigeria Money Laundering Case 6m643f Technology News

The judge adjourned the trial to October 18 after Gambaryan's lawyer cross-examined two state witnesses. 1x511o

By Reuters | Updated: 14 October 2024 17:59 IST

Binance Executive Denied Bail in Nigeria Money Laundering Case

Photo Credit: Facebook/ Binance 2s6t5z

In Nigeria, Binance separately faces tax evasion charges

Highlights

Binance denies charges against Tigran Gambaryan
Gambaryan has asked Nigerian authorities to free him on medical grounds
Gambaryan's latest bail request awaits approval

ment

Binance's head of financial crime compliance was denied bail for a second time on Friday as his trial on money laundering charges started in Nigeria, with a judge ruling that the prison in which he is being held is capable of meeting his medical needs.

Tigran Gambaryan, an American citizen, has been in detention in Nigeria since the end of February. He and Binance deny the charges against him.

He had asked the Federal High Court in Abuja to free him on medical grounds, arguing that he needed to undergo surgery outside prison and that his health was deteriorating.

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"There is no evidence before this court that the Nigerian Correctional Service cannot handle the health challenges of the accused," Judge Emeka Nwite said.

Nwite also said Gambaryan had not withdrawn an appeal against a previous bail ruling in May and so his latest request "amount to abuse of judicial process to it the accused to bail while an appeal is pending at the court of appeal."

The judge adjourned the trial to October 18 after Gambaryan's lawyer cross-examined two state witnesses.

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Gambaryan's wife, Yuki Gambaryan, said her husband should not be in detention because he was never a decision maker at Binance and she would continue to fight for his freedom.

"I just pray that when he is finally released that the damage he is suffering is not permanent. I am exhausted and deeply disappointed," she said in a statement.

Binance separately faces tax evasion charges, which it denies.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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