Nigerian Judge Reschedules Binance Exec’s Bail Hearing to October 9

2 min read | September 05, 2024 06:50 PM AEST | By Team Kalkine Media

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Nigerian Judge Reschedules Binance Exec’s Bail Hearing to October 9 — Image source: Shutterstock

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Tigran Gambaryan, a senior executive at Binance, has been detained in Nigeria since February, facing charges of tax evasion and money laundering. A recent update from a family spokesperson on September 4 indicates that a decision on Gambaryan’s latest bail application has been deferred to October 9.

Gambaryan, who serves as Binance’s head of financial crime compliance, was initially arrested by Nigerian authorities in February. Reports from his family, including his wife Yuki, highlight concerns over his deteriorating health while in custody. A video circulating on social media from a September 2 court appearance shows Gambaryan struggling to walk, with no assistance provided by the guards.

His legal team has filed for bail, citing inadequate medical care and worsening health conditions as key reasons for his release. Gambaryan, a U.S. citizen and former IRS special agent, has faced considerable support from lawmakers and the {crypto} community, with a petition launched by his wife amassing over 5,400 signatures advocating for his return to the United States.

The situation reflects a broader trend of heightened scrutiny and legal actions against high-profile figures in the tech and crypto sectors. For instance, on August 24, French authorities arrested Pavel Durov, CEO of Telegram, on charges related to money laundering and cryptology services.

Additionally, Nadeem Anjarwalla, another Binance executive detained alongside Gambaryan, managed to flee to Kenya. Nigerian authorities are reportedly seeking his extradition to face similar charges. Although Nigeria’s tax authority dropped the charges against both Anjarwalla and Gambaryan in June, they may still face court proceedings related to money laundering allegations.

The ongoing legal and health challenges faced by Gambaryan underscore the complexities and international dimensions of regulatory and legal matters in the cryptocurrency sector.

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