Binance Executive Tigran Gambaryan Collapses During Money Laundering Trial in Nigeria
In a stunning turn of events, Tigran Gambaryan, an executive of the cryptocurrency exchange Binance who is currently being detained, collapsed in court due to alleged poor health during his ongoing trial for money laundering on May 23, according to Vanguard.
The incident took place at the Federal High Court in Abuja shortly after the case was called for continuation before Justice Emeka Nwite.
Gambaryan, a U.S. citizen, and British-Kenyan national Nadeem Anjarwalla are facing charges of laundering over $35 million and engaging in specialized financial activities without a license. Both executives have pleaded not guilty.
During the trial, Gambaryan, who is Binance’s head of financial crimes compliance, did not immediately step forward to the dock when the case was called. He was seated in the back row and was assisted by his lawyer towards the dock but collapsed on the way and had to be seated in the front row.
Gambaryan’s lawyer informed the court about his client’s deteriorating health and submitted a written application notifying the court of his condition.
“Mordi stated, explaining that Gambaryan had been indisposed and required medical attention,” my lord, the case may not certainly proceed today.”
Gambaryan’s health issues have reportedly worsened since February. A letter presented to Judge Emeka Nwite highlighted that Gambaryan had broken down and received intravenous treatment for malaria the previous day. As a result, he was also absent from a tax evasion trial held the day before.
Judge Nwite ruled that Gambaryan should receive treatment at the hospital recommended by his lawyer or another designated by prison authorities. The trial has been adjourned to June 20 and 21 to allow for Gambaryan’s medical treatment.
The case has garnered significant attention, particularly due to Nigeria’s ongoing economic challenges. The country has accused Binance of contributing to its currency woes, as Binance and other cryptocurrency platforms have gained notoriety for trading the Nigerian naira amidst severe dollar shortages and a plummeting currency.
Throughout the proceedings, Gambaryan appeared visibly weak, leaning on the armrest of his seat.
Tax Evasion Charges Against Binance
The Federal Inland Revenue Service (FIRS) has filed tax evasion charges against Binance Holdings Limited and Gambaryan. However, due to his absence, the trial could not proceed on Wednesday and has now been rescheduled for June 14.
Gambaryan, who is reportedly held at Kuje Prison, did not appear for his scheduled arraignment, causing confusion among the lawyers. Justice Emeka Nwite, who oversees the case, had previously denied Gambaryan’s bail application due to new money laundering charges filed by the EFCC and considered him a flight risk. The prosecution and defense engaged in arguments over the failure to ensure Gambaryan’s presence, resulting in the adjournment.
Gambaryan’s absence from the arraignment session highlighted procedural issues, as his lawyer argued that the prosecution should have ensured his presence given his federal custody status.
Anjarwalla, who escaped custody in March, is still involved in the case but has not been officially marked as “at large,” which could complicate proceedings since Nigerian law requires all parties to be served for the case to move forward.
