Nigerian Court Rejects Tigran Gambaryan’s Bail Application

May 18, 2024
The basis for this was the court's indictment of Binance for tax evasion through a top manager of the company.

The lawyers of the former head of the cryptocurrency exchange objected to the bail application on the grounds of the need to consider the amended charges. The court agreed to postpone the hearing.

It is worth reminding that Gambaryan has been in custody in Nigeria since February of this year. A month after his arrest, Binance’s top manager was charged with money laundering and tax evasion.

The start of the trial was scheduled for this Friday. Abdulqadir Abbas from the Nigerian SEC was called as the first prosecution witness. After his interrogation, new facts emerged, and Gambaryan’s lawyers managed to postpone the hearing until May 23.

However, the chairman of Binance noted that Tigran Gambaryan did not have the authority to make decisions in the company. Moreover, he was constantly fighting cybercrime.

Binance CEO Richard Teng urged the Nigerian government to release Gambaryan.