A Nigerian court has denied a bail request on health grounds for Tigran Gambaryan, an executive at Binance Holdings Ltd., who is currently facing trial on charges of money laundering and currency manipulation. Despite concerns raised about his deteriorating health, the Federal High Court in Abuja ruled that illness alone does not warrant release from custody unless it poses a risk to others and no quarantine options are available.
Gambaryan, head of financial-crime compliance at Binance, has been in detention since February, with his legal team repeatedly citing his need for urgent medical treatment. His lawyer, Mark Mordi, argued that Gambaryan suffers from a herniated disk, which requires surgery and has left him unable to walk without assistance. The executive appeared in court in a wheelchair for the hearing, but Justice Emeka Nwite maintained that the request did not meet the criteria for bail. The court, however, ordered that he be referred to a hospital for treatment.
Gambaryan’s wife, Yuki Gambaryan, expressed disappointment over the decision, calling it “unjust” and criticizing the court for denying her husband the opportunity to seek medical care.
The case has drawn attention since February when Nigerian authorities detained Gambaryan and a colleague during a visit to the country. Binance, the world’s largest cryptocurrency exchange, has publicly advocated for his release, with Chief Executive Officer Richard Teng alleging that Nigerian officials had requested a “secret” payment to resolve the matter. Nigerian authorities have dismissed the claim, calling it a distraction from the charges against Binance.
