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Monday 23 March 2026
Policy & Regulation | May 17, 2024 | BitBulteni

Binance Executive Tigran Gambaryan Denied Bail

Binance Executive Tigran Gambaryan Denied Bail

A Nigerian court rejected the bail application of detained Binance executive Tigran Gambaryan on the grounds that he had a high probability of escape, the official's family spokesman announced in a statement on Friday.

On Friday, the bail hearings of executives arrested with Binance in Nigeria on charges of money laundering, tax evasion, and the exchange official’s Compliance Director Tigran Gambaryan took place. The court ruled that Binance could be notified of the Federal Revenue Service’s tax evasion charge through Gambaryan.

Gambaryan’s lawyers objected to the application on the grounds that they needed to review the amended charge to advise Gambaryan on his defence. The court decided to postpone the case until May 22, which is the hearing stage when the accusations are officially brought against the defendant.

Gambaryan, who turned 40 on Friday, has been detained in Nigeria since February. He and British-Kenyan Africa regional manager Nadeem Anjarwalla were also detained in February, but Anjarwalla later escaped.

Tigran Gambaryan’s wife, Yuki Gambaryan, said: “I really cannot believe that my innocent husband had to be tried on charges that he had nothing to do with.”

“The whole world is watching what is done to him and I only hope that common sense and justice will prevail and Tigran will be allowed to return home to us.”

A month after the exchange’s executives were arrested in the country, he and the exchange faced charges of money laundering and tax evasion. Gambaryan was later transferred to Kuje prison, where members of the Boko Haram terrorist organization were also housed.

The Nigerian Economic and Financial Crimes Commission (EFCC) money laundering trial began on Friday, with the prosecution calling Abdulkadir Abbas of the Nigerian Securities Commission as the first witness.

After the prosecution finished questioning the first witness, Gambaryan’s lawyers requested a brief adjournment, requesting certified records for some of the evidentiary documents that would be used in cross-examination of the witness. The court postponed the hearing until noon on May 23.

“We are deeply disappointed in the continued detention of Tigran Gambaryan, who has no decision-making authority at the company. Tigran has dedicated himself to public service and the fight against crime for most of his life. These accusations against him are completely unfounded. He should be released while negotiations between Binance and Nigerian government officials continue. ” said a Binance Spokesperson.

Binance CEO Richard Teng also recently published a blog post calling on the Nigerian government to release Gambaryan.

Tags: NijeryaKriptoHükümetBinance

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