Key Takeaways:
- Tigran Gambaryan, a Binance executive, collapsed during his trial in Nigeria for foreign exchange violations and money laundering.
- Gambaryan has been detained at Kuje Correctional Centre since April 2024 and previously denied bail.
- The trial was rescheduled for June 20-21 after Gambaryan’s collapse; he has also been charged with tax evasion by Nigerian authorities.
Tigran Gambaryan, a Binance executive detained in Nigeria, collapsed during his trial for alleged foreign exchange violations and money laundering offenses in the Federal High Court in Abuja.
His lawyer, Mark Mordi, informed the court on May 22 that Gambaryan had been unwell since the previous trial date.
Drama as Binance executive, Gambaryan, collapses in court over alleged ill-health https://t.co/37WqdJoTI4 pic.twitter.com/DdcQJTnwLZ
— The Nation Nigeria (@TheNationNews) May 23, 2024
Gambaryan had missed a court appearance for separate tax evasion charges earlier that day but attended the money laundering trial.
During the trial, Gambaryan collapsed and needed assistance.
His lawyer requested an adjournment for medical treatment, and the court rescheduled the trial for June 20 and 21.
BREAKING: #Binance Money Laundering Trial in Nigeria Delayed to June 20 Due to Executive’s Illness
— Kyle Chassé (@kyle_chasse) May 24, 2024
Previously, Gambaryan was denied bail due to concerns he might flee.
He has been detained at the Kuje Correctional Centre since April 2024, after pleading not guilty to money laundering charges.
In March, the Nigerian Federal Inland Revenue Service (FIRS) filed tax evasion charges against Binance and its executives, including Gambaryan, for failing to register and pay taxes.
👀 #Binance Nigeria's executive, Tigran Gambaryan, has collapsed during a trial in a case involving potential money #laundering.
— GN Crypto (@GNcrypto_news) May 24, 2024
The court rescheduled the hearing for June 20-21.https://t.co/lHyRcRRMrq
The Nigerian government has accused Binance of influencing foreign exchange rates, prompting stricter oversight.
Binance CEO Richard Teng claimed Nigerian officials sought a secret cryptocurrency settlement.
Binance announced in March that it would cease all Nigerian naira transactions, effectively exiting the market.
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