Imprisoned Binance Exec in Nigeria Admitted to Hospital

by BSC News

May 24, 2024


Gambaryan’s legal troubles began in February following a regulatory dispute with Nigerian officials.

Binance executive Tigran Gambaryan experienced a medical emergency on Thursday while attending his money laundering trial in Abuja, Nigeria. Gambaryan fainted as he stepped into the dock to face charges of engaging in a $35 million money laundering scheme with his employer. 

Defense counsel, led by Mark Mordi urged the court to postpone the trial to allow Gambaryan to recuperate and requested his transfer to Nizamiye Hospital for treatment. Justice Emeka Nwite directed Nigeria’s prison authorities to take him to Nizamiye Hospital, an upscale private medical facility in Abuja, for immediate treatment.

Legal Proceedings

Gambaryan, 40, Binance’s US-based head of financial crime compliance, has been detained in Kuje Prison since April 8 after pleading not guilty to the money laundering charges filed by Nigeria’s Economic and Financial Crimes Commission (EFCC). His trial has been adjourned to June 20 due to his health concerns. 


Additionally, he is scheduled to appear in court on June 14 for separate tax violation charges filed by Nigeria’s Federal Inland Revenue Service.

Detention Background

Gambaryan's legal troubles began on February 26 following a meeting with Nigerian officials to address a regulatory dispute regarding Binance’s operations and its impact on Nigeria’s currency, the naira. He was detained alongside Nadeem Anjarwalla, Binance’s regional manager based in Kenya, after they refused to hand over customer information of the company’s Nigerian users. 


Anjarwalla, a British lawyer, escaped detention a month later using a Kenyan passport and is now the target of an Interpol red notice.


Yuki Gambaryan, Tigran’s wife, criticized Nigerian authorities for the conditions in Kuje Prison and the treatment of her husband.


 "The conditions in the notorious Kuje Prison are, in a word, devastating," Yuki Gambaryan stated. 


Yuki expressed her concern over the severe illness signs shown by Tigran, who despite his normally strong health, has been significantly affected by the harsh prison environment.


Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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