Tigran Gambaryan, a Binance executive, collapsed during his trial at the Federal High Court in Abuja, Nigeria. Gambaryan is accused of currency violations and money laundering offences, charges brought by Nigeria’s Economic and Financial Crimes Commission (EFCC).

Health problems since last session

According to local media, Mark Mordi, Gambaryan’s lawyer, told the court on May 22 that his client had been experiencing health problems since the previous hearing. Gambaryan failed to appear in court that same day on a separate charge of tax evasion filed by Nigeria’s Federal Inland Revenue Service (FIRS). He was present for the money laundering charges.

During the hearing, Gambaryan sat motionless in the back row, prompting Judge Emeka Nwite to ask for clarification. Mordi helped his client forward, but Gambaryan suddenly collapsed and needed the help of his lawyer to remain seated. Mordi stated that his client was unwell and had submitted a written request to inform the court of this.

Given the situation, Mordi requested a postponement of the case for medical treatment of his client, which the court granted. New cross-examination and trial dates have been set for June 20 and 21.

Bail application rejected

Earlier, on May 16, Gambaryan’s bail application was rejected by the judge over concerns by the EFCC that he was a flight risk. Gambaryan has been held at the Kuje Correctional Center in Abuja since April 2024 after pleading not guilty to the money laundering charges.

Additionally, the FIRS filed tax evasion charges against Binance and its executives, including Gambaryan and Nadeem Anjarwalla, in March. The charges include failure to register with the FIRS and failure to pay taxes.

Influencing exchange rates

The Nigerian government accuses Binance of influencing exchange rates, which has led to stricter controls on crypto trading platforms. Binance CEO Richard Teng recently alleged that Nigerian officials attempted to force Binance into an undisclosed cryptocurrency settlement in early 2024.

On March 5, Binance announced it would stop all transactions in Nigerian naira and leave the market. Binance’s peer-to-peer trading platform canceled all Nigerian naira trading pairs at the end of February.

Source: https://newsbit.nl/binance-directeur-tigran-gambaryan-instort-tijdens-proces-in-nigeria/

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