Tigran Gambaryan, a high-ranking executive at cryptocurrency exchange Binance, fainted during his money laundering trial on Thursday in Abuja, Nigeria. This incident raises concerns about his health after eight weeks in detention.
Gambaryan, who heads Binance’s financial crime compliance unit, appeared weak and stressed during the court proceedings. His lawyer, Mark Mordi, attributed the fainting to deteriorating health and presented a doctor’s note, although details of the condition were not disclosed.
The judge adjourned the trial until June 20 and 21 to allow Gambaryan medical attention. This marks a significant development in the ongoing legal battle between Binance and Nigerian authorities.
Gambaryan, along with a colleague and Binance itself, was charged with money laundering related to $35 million in transactions by Nigeria’s Economic and Financial Crimes Commission (EFCC) in April. Additionally, the Federal Inland Revenue Service (FIRS) accused them of tax violations.
Binance, Gambaryan, and Nadeem Anjarwalla (the company’s regional head in Africa) have denied all money laundering charges. Gambaryan pleaded not guilty, but his bail request was denied in May due to flight risk concerns.
The Nigerian government blames Binance for enabling foreign exchange racketeering through its peer-to-peer platform, contributing to the country’s currency woes.
Negotiations between Binance and Nigerian officials in February resulted in the detention of Gambaryan and Anjarwalla. Anjarwalla, a British lawyer, escaped using a Kenyan passport and is currently wanted by Interpol.
Binance CEO Richard Teng has condemned Gambaryan’s prolonged incarceration, stating he lacks decision-making authority and shouldn’t be held responsible for company practices.
