Tigran Gambaryan, a high-ranking official of Binance Holdings Limited, arrived at the Federal High Court in Abuja in a wheelchair on Tuesday. Gambaryan, who is currently detained in Kuje prison, faces charges of money laundering and terrorism financing. His health appears to be deteriorating, as evidenced by his need for a wheelchair.
Dressed in a black T-shirt and blue jeans, Gambaryan stood and walked slowly to the dock when his case was called. This follows a prior incident on May 23 when he collapsed in the courtroom. His lawyer, Mark Mordi, SAN, informed Justice Emeka Nwite that Gambaryan’s health has worsened while in prison, necessitating his use of a wheelchair.
Justice Nwite had previously denied Gambaryan bail on May 17, expressing concerns that he might flee if released. The court referenced evidence from the Economic and Financial Crimes Commission (EFCC) suggesting Gambaryan posed a flight risk. The EFCC claimed Gambaryan had attempted to secure a new U.S. passport despite his existing passport being held by authorities.
The EFCC also highlighted an incident where Gambaryan’s colleague, Nadeem Anjarwalla, escaped from custody and fled to Kenya. The EFCC argued that Gambaryan’s ties to Armenia and the United States increased the likelihood of him absconding if granted bail.
Gambaryan’s defense team, however, argued that the charges against him are bailable under Nigerian law and that there is no credible evidence to suggest he would not appear for trial. Mordi contended that the EFCC’s claims were based on unreliable evidence and stressed that his client is eager to prove his innocence. He described the situation as a “state sanctioned hostage taking” intended to extract information from Binance.
Despite these arguments, the prosecution insisted on keeping Gambaryan in custody, suggesting that the risk of escape was too high. The EFCC even proposed returning Gambaryan to their own custody, arguing that it would be a safer alternative to prison.
Gambaryan, alongside Anjarwalla, was initially detained over allegations of their involvement in money laundering and terrorism financing through Binance. Anjarwalla’s escape has added to the complexities of the case, prompting Nigerian authorities to seek his extradition from Kenya.
While the EFCC pursues charges of financial misconduct, the Federal Inland Revenue Service (FIRS) had also filed tax fraud charges against the duo and Binance. However, the FIRS has since withdrawn charges against Gambaryan and Anjarwalla following Binance’s appointment of a Nigerian representative.
