The Economic and Financial Crimes Commission has charged Gambaryan with money laundering, a crime worth $35.4 million.
Tigran Gambaryan, the executive of Binance Holdings, was arrested. His new bail application was denied by Justice Emeka Nwite of the Federal High Court in Abuja.
Court Rejects Binance Executive’s Medical Bail Application Amid Allegations Of Money Laundering
Judge Nwite denied the motion for bail on medical grounds, pointing out that he was already receiving treatment from renowned Nigerian medical professionals.However, the Judge mandated that Gambaryan be sent by the Nigerian Correctional Service to a regular Abuja hospital for treatment for a period of three days to two weeks while being closely monitored by security personnel.The trial was then postponed until October 18, November 22, and October 25, by him. Gambaryan’s attorney, Mark Mordi, had previously maintained that his client’s condition was “perilous.” He said that in addition to psychiatric treatment for anxiety and depression, his patient needed surgery to repair a herniated disc.Citing subpar treatment during incarceration, Mordi asked for a six-week bond so that Gambaryan could obtain appropriate medical care outside of jail.
The defense’s claims were contested by EFCC attorney Ekele Iheanacho, who said they overstated Gambaryan’s medical condition. He argued that the second defendant’s condition was not severe enough to justify bail, and that he could receive treatment while incarcerated at Kuje Correctional Facility.Iheanacho reported that Gambaryan was admitted to prestigious medical facilities, such as the State House Clinic and Nizamiye Hospital, and that a State House Clinic medical report revealed he had turned down treatment and medication.
He added that Gambaryan had received thorough treatment and had not shown any signs of health decline, according to reports from Nizamiye Hospital.Iheanacho restated that there was no evidence to suggest that the Nigerian Correctional Service was unable to handle Gambaryan’s medical condition. According to him, the NCS is taking care of him, and experts have been consulted. There is currently no evidence of a serious illness. We have received complaints addressed to the National Security Advisor.The Economic and Financial Crimes Commission has charged Gambaryan with money laundering, a crime worth $35.4 million.
