Alleged Money Laundering: Court denies Binance executive’s medical bail application
Justice Emeka Nwite of the Federal High Court in Abuja has denied a bail request for Tigran Gambaryan, an executive of Binance Holdings, who is currently facing charges of laundering $35.4 million.
The court dismissed the bail application made on medical grounds, highlighting that Gambaryan’s health is being managed by top Nigerian medical professionals.
In the ruling, Justice Nwite ordered that Gambaryan be transferred to a reputable hospital in Abuja for treatment under security supervision, permitting a temporary medical stay of three days to two weeks.
Despite this provision, the judge did not approve bail, and the trial will proceed with further hearings scheduled for October 18, November 22, and November 25.
Gambaryan’s lawyer, Mark Mordi, argued for bail, emphasizing that his client suffers from severe health issues, including a herniated disc and mental health conditions such as depression and anxiety, which require urgent attention beyond the scope of prison healthcare.
Mordi requested a six-week bail period for Gambaryan to receive surgery and psychiatric care outside of custody, citing inadequacies in the correctional facility’s healthcare services.
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Opposing the motion, EFCC prosecutor Ekele Iheanacho contended that Gambaryan’s health issues were overstated and could be effectively managed within the correctional system.
He referenced medical reports from both the State House Clinic and Nizamiye Hospital, which indicated that Gambaryan had refused treatment. Iheanacho further argued that Gambaryan had received comprehensive medical attention and that his condition had shown no significant deterioration.
Justice Nwite’s decision underscores the court’s stance on serious financial crimes, maintaining Gambaryan’s detention while allowing limited supervised medical care as the trial continues.
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