Nigerian Court Denies Bail for Binance Exec: Here Are the Reasons

Court Rejects Bail Application of Tigran Gambaryan Amid Health Concern

A Nigerian court has denied bail to Tigran Gambaryan, a Binance executive facing $35.4 million money laundering charges, citing health concerns and potential flight risk. The decision came from Judge Emeka Nwite of Nigeria’s Federal High Court in Abuja on October 11, 2024.

Judge Rejects Bail Application Amid Health Concerns for Binance Executive

Gambaryan’s lawyer, Mark Mordi, argued for bail on medical grounds, claiming Gambaryan’s health is perilous. He highlighted that Gambaryan needs surgery for a herniated disc and psychiatric care for depression and anxiety. Mordi requested a six-week bail period for his client to seek appropriate medical attention outside prison.

However, Judge Nwite denied the request, stating that Gambaryan’s health condition does not warrant bail unless it poses a threat to others and quarantine isn't available. He emphasized that renowned Nigerian medical experts are already managing Gambaryan’s health and ordered the Nigerian Correctional Service to refer him to a standard hospital in Abuja for treatment under security supervision.

Court and EFCC Dispute Over Adequate Medical Care for Gambaryan

The Economic and Financial Crimes Commission (EFCC), prosecuting Gambaryan, disputed the defense's claims about the severity of his health condition. EFCC's senior prosecutor, Ekele Iheanacho, argued that Gambaryan’s health issues are not as serious as presented by his lawyers. Iheanacho maintained that Gambaryan had access to prestigious medical facilities such as the State House Clinic and Nizamiye Hospital, and received comprehensive care.

The EFCC also alleged that Gambaryan refused prescribed medications and food during his treatment at the State House Annex Clinic. They insisted that the Nigerian Correctional Service is capable of managing his health condition, noting that experts have been engaged to ensure his well-being.

• Gambaryan's lawyer highlighted the need for surgery and psychiatric care.

• The EFCC disputed the severity of Gambaryan’s health issues.

• Judge Nwite ordered Gambaryan to remain in custody with access to hospital treatment.

The court has scheduled the continuation of Gambaryan’s trial for October 18, 2024, and November 22 and 25, 2024. Despite the health concerns raised, the court remains firm on denying bail, prioritizing security and ensuring justice in the money laundering case.

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