Tigran Gambaryan’s Trial: Binance Executive’s Collapse Raises Questions

Tigran Gambaryan, a Binance executive, faced a dramatic courtroom scene in the Federal High Court in Abuja as he collapsed during his trial for alleged money laundering offences brought by the Nigerian Economic and Financial Crimes Commission (EFCC). The incident unfolded amidst a backdrop of legal challenges and health concerns.

Legal Proceedings and Health Crisis: A Tumultuous Trial for Tigran Gambaryan

Gambaryan’s trial took an unexpected turn as he collapsed during the proceedings, raising questions about his health and ability to participate in the legal process. His absence during a prior court appearance and subsequent collapse during the money laundering trial underscored the complexity of his legal situation.

Tigran Gambaryan, a Binance executive currently detained in Nigeria, collapsed in the Federal High Court in Abuja during his trial for alleged foreign exchange violations and money laundering offences brought against him by the Nigerian Economic and Financial Crimes Commission (EFCC).

Mark Mordi, Gambaryan’s legal representative, notified the court on May 22 that his client had been unwell since the previous trial date and was still experiencing health problems.

Legal Limbo: Gambaryan’s Detention and Court Proceedings

Gambaryan’s legal woes began with charges of tax evasion and money laundering, leading to his detention in Nigeria’s Kuje Correctional Centre. Despite Gambaryan’s plea of not guilty, concerns over flight risk prompted the court to deny his bail request, prolonging his detention.

In March, the FIRS filed tax evasion charges against Binance and its executives, Gambaryan and Nadeem Anjarwalla. The charges included failure to register with the FIRS, failure to pay company income tax, failure to pay value-added tax, and facilitating tax evasion.

Regulatory Scrutiny and Binance’s Nigerian Exit

The Nigerian government’s allegations against Binance, including influencing foreign exchange rates and tax evasion, have intensified regulatory scrutiny on cryptocurrency exchanges. Binance’s decision to halt Nigerian naira transactions and delist trading pairs further fueled speculation about the company’s future in the Nigerian market.

Also Read: Binance Executive Faces Money Laundering Charges in Nigerian Court