‘Money laundering’: Court to rule on Binance executive’s bail application October 9

A federal high court in Abuja has fixed October 9 to rule on a bail application filed by Tigran Gambaryan, an executive of Binance Holdings Limited, on health grounds.

Emeka Nwite, the presiding judge, gave the ruling on Wednesday after listening to arguments from Mark Mordi, the defence counsel, and Ekele Iheanacho, the prosecution counsel.

Iheanacho is opposing the freedom bid made on health grounds.

In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Tigran Gambaryan over allegations bordering on money laundering.

On May 17, the court refused Gambaryan’s first bail request. The Binance executive later collapsed in court on May 23 due to “ill-health”.

Gambaryan’s legal team and his family have previously raised alarm that he could die in the Kuje prison if his health continued to deteriorate.

His wife, Yuki, said Gambaryan’s health was getting worse, stressing that he needed “highly specialised and risky surgery” to treat the herniated disc in his back.

Gambaryan’s health had led Nwite to issue an arrest warrant against Abraham Ehizojie, a medical doctor at the health facility in Kuje correctional centre, on July 30 over his failure to produce the executive’s medical report.

On September 2, the EFCC objected to the health claims made by the Binance executive after Iheanacho filed a counter affidavit to the bail application.

Mordi had informed the court of another bail application — which was filed on August 28 — during the session seeking the release of his client on medical grounds.

On September 3, Binance urged the Nigerian government to release Gambaryan, citing his “rapidly” declining health.