Tigran Gambaryan, Binance’s head of financial compliance, was denied bail for the second time on Friday as his trial on money laundering charges commenced in Nigeria. The presiding judge ruled that the Nigerian Correctional Service is adequately equipped to address Gambaryan’s medical needs, dismissing his request for release based on health concerns.
Gambaryan, an American citizen, has been in detention since February, with both he and Binance denying the charges against him. He had petitioned the Federal High Court in Abuja for bail, citing the need for surgery outside of prison and claiming his health was deteriorating.
“There is no evidence before this court that the Nigerian Correctional Service cannot handle the health challenges of the accused,” said Judge Emeka Nwite in his ruling.
Nwite further noted that Gambaryan had not yet withdrawn an appeal from a previous bail denial in May, stating that his latest request amounted to an abuse of judicial process while the appeal was still pending.
Following the cross-examination of two state witnesses by Gambaryan’s lawyer, the judge adjourned the trial until October 18.
Gambaryan’s wife, Yuki Gambaryan, expressed her frustration over her husband’s continued detention. “He was never a decision-maker at Binance. I pray that when he is finally released, the damage he’s enduring isn’t permanent. I am exhausted and deeply disappointed,” she said in a statement.
Binance is also facing separate tax evasion charges, which it denies.