Binanceexecutive detained in Nigerian jail barred from contacting lawyers, as health deteriorates further.
In a significant development, Tigran Gambaryan, the former head of financial crime compliance at global cryptocurrency exchange Binance, has been released from a Nigerian prison after eight months of detention due to deteriorating health conditions.
Gambaryan, along with other Binance officials, was invited to Nigeria by the Nigerian government on February 26. The legal proceedings against him, initially adjourned on July 16, are now scheduled to resume on October 11.
The ongoing case revolves around allegations that Binance facilitated illegal foreign exchange trading, which Nigeria claims contributed to currency devaluation. Gambaryan was charged with money laundering and tax evasion. Despite his release, Nigerian prosecutors have expressed their intention to continue the case against Binance.
Gambaryan's wife, Yuki, has been appealing to the Nigerian government for his release to receive adequate medical treatment. She has not been allowed to enter the Kuje Correctional Center in Abuja, Nigeria's capital, and neither has Gambaryan's legal team.
Gambaryan's health has reportedly worsened during his detention. He requires surgery for a herniated disc and is suffering from throat infections and pneumonia, ailments he reportedly picked up in prison.
Several US lawmakers have petitioned the US President, Joe Biden, to intervene and secure Gambaryan's release, but their appeals have not resulted in his release as of yet.
The rescheduled court hearing for the money laundering case is set for September 2, 2025, an earlier date than the originally scheduled October date. This development coincides with announcements of enhanced U.S.-Nigeria collaboration on crypto crime enforcement.
As Gambaryan continues to recuperate, the legal proceedings against him and Binance will proceed, with the next hearing scheduled for October 11. The outcome of these proceedings will have significant implications for both parties involved.
- Tigran Gambaryan, former head of financial crime compliance at Binance, was released from a Nigerian prison after eight months due to deteriorating health conditions.
- The rescheduled court hearing for the money laundering case against Gambaryan and Binance is set for September 2, 2025, an earlier date than previously scheduled.
- Gambaryan's wife, Yuki, and his legal team were not allowed to enter the Kuje Correctional Center in Abuja during his detention.
- Gambaryan's health has reportedly worsened during his detention, requiring surgery for a herniated disc and treatment for throat infections and pneumonia.
- The legal proceedings against Gambaryan and Binance, initially adjourned on July 16, are now scheduled to resume on October 11.
- The ongoing case involves allegations that Binance facilitated illegal foreign exchange trading, which Nigeria claims contributed to currency devaluation, and charges of money laundering and tax evasion against Gambaryan.
