Tigran Gambaryan, a detained executive of cryptocurrency exchange platform Binance. Mr. Gambaryan reportedly fainted and felt so weak to stand in the dock before his trial could begin on Thursday 23 May 2024 at the Federal High Court in Abuja.
Mr. Gambaryan’s lawyer, Mark Mordi (SAN), informed the court of his client’s deteriorating health since the last hearing. He presented a letter detailing Mr. Gambaryan’s condition and requested for an adjournment to allow for proper medical attention. The EFCC prosecutor, Ekele Iheanacho, did not object to the request.
Justice Emeka Nwite consequently postponed the trial, rescheduling cross-examination and further proceedings for June 20th and 21st.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Mr. Gambaryan for alleged foreign exchange (forex) violations and money laundering. This case follows accusations by the Nigerian government that Binance, through its Naira peer-to-peer (P2P) platform, manipulated the Nigerian currency.
The Nigerian Government claims Binance executives, including Mr. Gambaryan and the currently-fleeing Nadeem Anjarwalla, conspired to hide the source of funds exceeding $35m related to their alleged illegal activities in Nigeria. These activities violate Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
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