Prison authorities in Nigeria stated that Binance executive Tigran Gambaryan has been arrested ‘very sick’, which means he can no longer appear in court for his trial.
This is a major concern raised by his wife almost two months ago, saying Gambaryan’s health condition has deteriorated sharply since he was detained in April.
Binance Exec trial reset to October 25
The trial against controversial Binance CEO Gambaryan was again rescheduled for a later date after failing to appear in court due to his health condition.
His trial was scheduled to take place on October 18 last year. The director of Binance is an American national and was unable to attend because he was ill. Judge Emeka Nwite stayed the proceedings to allow Gambaryan to undergo medical treatment.
Nwite ruled that his trial would resume on October 25, giving him ample time to seek medical attention.
Nigerian court adjourns trial of detained Binance director Gambaryan, declared ‘very ill’ by prison authorities pic.twitter.com/uemQTOncdx
— Aneke Tv (@AnekeTv) October 18, 2024
The federal judge also ordered the Nigerian penitentiary to be brought in Gambaryan to a regular hospital to receive him treatment for up to two weeks, but under security supervision while he undergoes medical treatment.
Gambaryan has been in custody of Nigerian authorities since February. He is facing a $35 million money laundering case.
7/7 Jail sentence against Binance Exec in Nigeria postponed after he failed to show up in court – ‘He is very sick’https://t.co/LiwQNPMBtB
UAE – DL News
Over the past few months in Nigeria, Tigran Gambaryan has been fighting the effects of malaria, enduring the pain of a bad back and shaking… pic.twitter.com/Iq7hhdSoHT— Hostage Assistance Worldwide (@HostageAid) October 18, 2024
The Deteriorating Health of Binance Exec
In August, Gambaryan’s wife, Yuki, drew the court’s attention to the fact that her husband’s health condition had deteriorated sharply since he was detained in April.
She said her husband’s health had deteriorated significantly during his detention, adding that he had too deteriorating condition can lead to irreversible damage, affecting his spouse’s mobility.
As of today, the market cap of cryptocurrencies stood at $2.28 trillion. Chart: TradingView.com
Gambaryan’s wife has appealed to the court for his husband’s temporary release to prevent his condition from deteriorating further.
Bail application rejected
Earlier, Gambaryan asked the Nigerian federal court for permission to release him on bail so he could undergo surgery outside prison. However, the federal court rejected the bail application for the second time.
The federal court ruled that there was no evidence that the Nigerian Correctional Service could not cope with Gambaryan’s medical condition.
Gambaryan’s wife expressed her disbelief at the decision, arguing that it is not fair to deny his husband needed medical attention.
A Binance spokesperson also expressed dissatisfaction with the court’s decision, as Nigerian authorities have been unlawfully detaining Gambarayan for more than 220 days.
Taking to social media, Binance officials called for Gambaryan’s immediate release, 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 resolve current legal charges against them — an accusation that Nigerian officials refuted, claiming it was merely a was a diversionary maneuver used by Binance.
Featured image from Harvard Gazette, chart from TradingView