Binance executive Tigran Gambaryan nears 100 days in Nigerian custody without a bail ruling as trial looms
The anti-corruption agency alleges Binance is facilitating the devaluation of the African nation’s fiat currency by permitting racketeers to unlawfully manipulate its price through trading of stablecoins and a digital version of the naira
Another court hearing. Another delay.
This time it means Binance executive Tigran Gambaryan will be incarcerated in Nigeria for 100 days without a decision on whether he can make bail.
On Thursday, Justice Emeka Nwite adjourned the start of Gambaryan’s money laundering trial to May 17, the same day he previously scheduled for deciding whether he can be released on bond, according to court proceedings monitored by DL News.
As it happens, that is also Gambaryan’s 40th birthday.
It was another frustrating development for the US-based head of Binance’s financial crimes compliance unit.
Gambaryan has endured numerous delays and reversals ever since he was swept up in Binance’s worsening legal crisis in Africa’s most populous nation.
Not guilty plea
Gambaryan, former agent for the US internal Revenue Service, has pleaded not guilty to the charges. His wife Yuki has pleaded with the US State Department to help get him released.
The Nigeria’s Economic and Financial Crimes Commission made the charges as part of a wide-ranging investigation into Binance’s operations in Africa’s most populous nation.
The anti-corruption agency alleges Binance is facilitating the devaluation of the African nation’s fiat currency by permitting racketeers to unlawfully manipulate its price through trading of stablecoins and a digital version of the naira.
