Binance Executive Tigran Gambaryan Refused Bail in Nigeria

Tigran Gambaryan, a high-ranking executive at Binance, has been in custody in Nigeria since February. Despite attempts to secure his release, his request for bail was recently denied by the Nigerian authorities. This ongoing detention has raised concerns and drawn attention to the legal battle surrounding his case. In this article, we’ll explore the key details of Gambaryan’s situation, the charges against him, and what this means for Binance in Nigeria.

Tigran Gambaryan Refused Bail in Nigeria

Binance executive Tigran Gambaryan was refused bail by a Nigerian judge, as confirmed by a family representative on Friday.

"We are profoundly disappointed by the court's decision to deny Tigran bail, especially considering his declining health. He has been unlawfully imprisoned for more than 220 days," a Binance spokesperson stated, adding that the company remains dedicated to cooperating with the Nigerian authorities.

Gambaryan, who heads financial crime compliance at Binance, has been in custody in Nigeria since February. He is being held at Kuje prison, where several members of the Boko Haram terrorist group are also detained. His imprisonment follows the escape of fellow Binance employee Nadeem Anjarwalla in March.

Health Crisis Worsens as Bail Denial Prolongs Gambaryan's Detention

Initially facing charges of tax evasion and money laundering, the tax-related accusations were later dismissed. In September, the court postponed a decision on his bail. His legal team submitted a new request, highlighting his deteriorating health. One of his attorneys, Mark Mordi, told the court that Gambaryan had required surgery since July 18 and urgently needs medical attention that the prison cannot provide, as reported by Bloomberg. 

While incarcerated, Gambaryan has suffered from malaria, pneumonia, and tonsillitis, in addition to complications from a herniated disc in his back, which has left him dependent on a wheelchair. 

However, during a recent court appearance, he was seen using only a single crutch, struggling without a wheelchair. “Tigran’s condition makes it unjust to deny him the chance to receive proper medical treatment, and I pray that when he is finally released, the damage he has endured isn’t permanent,” said his wife, Yuki Gambaryan. "I am exhausted and heartbroken, but I will continue fighting for his rightful freedom."