Justice Emeka Nwite of the Federal High Court in Abuja has denied a renewed bail application from Tigran Gambaryan, a detained Binance Holdings Executive, who sought release on medical grounds.
In his ruling, Justice Emeka Nwite emphasized that Gambaryan’s health was being adequately managed by prominent Nigerian medical professionals. However, the court ordered the Nigerian Correctional Service, NCS, to transfer Gambaryan to a reputable hospital in Abuja for a treatment period of three days to two weeks, under strict security supervision.
The case has been adjourned to October 18, November 22, and 25 for the continuation of the trial. Gambaryan’s counsel, Mark Mordi, had argued that his client’s health was deteriorating, requiring surgery for a herniated disc, as well as psychiatric care for depression and anxiety. He requested a six-week bail for Gambaryan to seek specialized medical attention outside prison, citing the inadequacy of care in custody.
The prosecution, led by the Economic and Financial Crimes Commission, EFCC, counsel Ekele Iheanacho, opposed the application, accusing the defense of exaggerating Gambaryan’s condition. Iheanacho argued that the detained executive could receive proper treatment within the Kuje Correctional Facility, noting that he had already been treated at top facilities, including the State House Clinic and Nizamiye Hospital. He further highlighted that medical reports indicated Gambaryan had refused some treatments and showed no signs of severe health decline.
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Iheanacho stressed that Gambaryan’s condition was being well-managed by the NCS, with experts involved in his care, and there was no justification for bail. The court remains focused on the ongoing trial, where Gambaryan faces charges of laundering $35.4 million, brought by EFCC.
As the legal proceedings continue to unfold, Gambaryan’s future remains uncertain. The case highlights ongoing tensions between cryptocurrency firms and regulatory bodies in Nigeria amid broader concerns about financial oversight and human rights.
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