Binance head of financial compliance Tigran Gambaryan, on trial for money laundering in Nigeria, will know on Oct. 9 whether he will be released on bail or remain in prison custody after a judge deferred ruling on his request on Wednesday.
Gambaryan, a U.S. citizen, has been detained since February in a dispute between the world’s largest cryptocurrency exchange and the Nigerian government. He denies any wrongdoing.
Federal High Court judge Emeka Nwete in the capital Abuja listened to hours of arguments from Gambaryan’s lawyer and a state prosecutor, who is opposing the freedom bid made on health grounds.
His initial bail application was denied on May 17. Shortly after, on May 23, Gambaryan reportedly collapsed in court due to what his defense team described as “ill-health.”
The lawyer said Gambaryan needs to undergo surgery outside prison and that his health is deteriorating.
READ ALSO: Binance CEO Begs Nigerian Gov’t To Release Gambaryan On Declining Health
The executive’s legal team, along with his family, has expressed serious concerns about his health, warning that he might not survive if his condition continues to worsen while in Kuje prison.
His wife, Yuki Gambaryan, also stated that her husband’s health is deteriorating rapidly, emphasising that he requires “highly specialised and risky surgery” to treat a herniated disc in his back.
On September 2, the EFCC contested the claims about Gambaryan’s health status, with Iheanacho filing a counter affidavit in response to the latest bail application.
However, Nwete said she would make a ruling next month and sent Gambaryan back to prison.
Binance separately faces tax evasion charges, which it denies. In March, the exchange stopped all transactions and trading in naira after a country-wide crackdown on crypto exchanges that authorities blamed for feeding a black market for foreign exchange.
