A Nigerian court has postponed the trial of Tigran Gambaryan, a Binance executive who is currently detained in Nigeria. The trial was delayed on Friday after Gambaryan, a US citizen and Head of Financial Crime Compliance at Binance, was unable to attend due to illness.
Gambaryan has been held in Nigeria since February and is facing charges of laundering over $35 million, allegations that both he and Binance have denied. Judge Emeka Nwite of the Federal High Court in Abuja has rescheduled the trial to October 25 to allow Gambaryan to receive medical treatment.
Last week, Judge Nwite rejected Gambaryan’s request for bail for the second time, stating that the prison could adequately manage his health needs. Gambaryan had requested release citing his deteriorating health and the necessity for surgery outside of prison.
In response to the situation, Binance has taken to social media to advocate for Gambaryan’s release. CEO Richard Teng has claimed that Nigerian authorities demanded a “secret” payment to resolve the issues. Nigerian officials, however, have refuted these allegations, labeling them as a diversion from Binance’s activities.
In August, Yuki Gambaryan, Tigran’s wife, expressed concerns about her husband’s deteriorating health in detention, warning that his condition could lead to permanent damage, potentially affecting his mobility. She has called for his release and vowed to continue advocating on his behalf.
Binance is also facing separate tax evasion charges, which the company denies. The exchange has halted transactions in Nigeria’s currency, the naira, following a government crackdown on crypto exchanges that authorities claim are linked to the black market for foreign currency.
The situation surrounding Tigran Gambaryan’s trial and detention continues to unfold, with Binance and Nigerian authorities at odds over the circumstances. The postponement of the trial and the ongoing legal battles highlight the complexities and challenges faced by individuals and companies operating in the cryptocurrency space.