Binance Executive Too Sick For Court, Nigerian Trial Postponed

Prison authorities in Nigeria declared that detained Binance executive Tigran Gambaryan is ‘very sick’, preventing him from appearing in court again for his trial.

This is a major concern which had been raised by his wife nearly two months ago, saying that Gambaryan’s health condition has sharply deteriorated since being detained in April.

Binance Exec Trial Reset To October 25

The trial of embattled Binance executive Gambaryan was once again moved to a later date after he failed to appear in court due to his health condition.

His trial was supposedly scheduled last October 18. The Binance executive is a US citizen and could not attend because he was ill. Judge Emeka Nwite adjourned the proceedings to allow Gambaryan to undergo medical treatment.

Nwite ruled his trial would resume on October 25, giving him ample time to seek medical attention.

Nigerian Court Adjourns Trial Of Detained Binance Executive, Gambaryan, Declared As ‘Very Sick’ By Prison Authorities pic.twitter.com/uemQTOncdx

— Aneke Tv (@AnekeTv) October 18, 2024

The federal judge also instructed the Nigerian correctional facility to bring Gambaryan to a regular hospital to have him treated for up to two weeks but with security supervision while undergoing medical treatment.

Gambaryan has been in the custody of Nigerian authorities since February. He is facing a $35-million money laundering case.

7/7 Jailed Binance Exec’s Nigeria Trial Postponed After He Fails to Come to Court ― ‘He’s Very Sick’https://t.co/LiwQNPMBtB
UAE – DL News
Over the last several months in Nigeria, Tigran Gambaryan has fought off the effects of malaria, endured the pain of a bad back, & shuffled… pic.twitter.com/Iq7hhdSoHT

— Hostage Aid Worldwide (@HostageAid) October 18, 2024

Binance Exec’s Deteriorating Health

In August, Gambaryan’s wife, Yuki, called the attention of the court that her husband’s health condition had sharply deteriorated since being detained in April.

She said that the health of her husband has significantly declined while in detention, adding that his worsening condition could result in irreversible damage, affecting his husband’s mobility.

As of today, the market cap of cryptocurrencies stood at $2.28 trillion. Chart: TradingView.com

Gambaryan’s wife appealed to the court for the temporary release of his husband so as not to further worsen his condition.

Request For Bail Denied

Earlier, Gambaryan sought the permission of the Nigerian federal court to allow him to post bail so he could undergo surgery outside prison. However, the federal court denied the bail application, for the second time.

The federal court ruled that there was no proof that the Nigerian Correctional Service could not handle Gambaryan’s medical condition.

Gambaryan’s wife expressed her disbelief with the decision, arguing that it is not fair to deny his husband the needed medical attention.

A Binance spokesperson also expressed their dismay at the court’s decision, considering the Nigerian authorities have been detaining Gambarayan unlawfully for more than 220 days.

Through social media, Binance officials called for the immediate release of Gambaryan citing his deteriorating medical condition.

Binance CEO Richard Teng even accused Nigerian authorities of asking the crypto exchange to comply with a “secret” deal to solve the current legal charges against them — an accusation that Nigerian officials refuted, claiming that it is only a diversionary tactic employed by Binance.

Featured image from Harvard Gazette, chart from TradingView