Binance Gambaryan’s Case Delayed Again as Central Bank Continues Obstruction

• The money laundering case against Binance and Tigran Gambaryan in Nigeria has resumed.
• The most recent hearing was supposed to see the continuation of cross-examination but was delayed as officials again rebuffed court orders.
• Gambaryan’s health concerns linger as the Binance executive appeared to be in excruciating pain.

For over six months, Tigran Gambaryan, chief financial crime compliance officer at Binance , a U.S. citizen and celebrated former IRS Special Agent, has been held in Nigeria for tax evasion and money laundering offenses allegedly committed by Binance despite having no decision-making power at the exchange.

While Gambaryan has managed to shake the tax evasion case , the money laundering charges persist. Proceedings in the case had faced a three-month delay due to an annual court recess but have resumed after only over one month thanks to a successful appeal spurred by concerns over the Binance executive’s health. However, just as the case picked up, it has been faced with yet another delay as government officials rebuff court orders.

Binance Gambaryan’s Case Adjourned 

The money laundering case brought against Binance and Tigran Gambaryan by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has faced another setback shortly after resuming. 

The most recent hearing in the case on Monday, September 2, observed by my colleague, DailyCoin reporter Grace Abidemi , was supposed to see the continuation of the cross-examination of Olubukola Akinwunmi , head of payments policy and regulation at the Central Bank of Nigeria (CBN), called by the prosecution to speak on the nature of Binance’s operations in Nigeria and claims that these operations interfered with naira price discovery.

The hearing was, however, forced to be adjourned to Wednesday, September 4, as the defense noted that documents requested from the CBN to aid the cross-examination had yet to be provided. While the specific documents required were not specified, the defense had stated an interest in seeing regulations requiring casinos and arcade gaming businesses to obtain CBN licenses during the previous hearing, a request that CBN’s Akinwunmi had asserted the apex bank would be happy to oblige if requested by the court. 

The interest came as Akinwunmi had claimed that Binance’s business model required it to have CBN authorization, a claim the defense aimed to show represented a double standard.

The defense also pointed out that they had obtained a subpoena for CBN Governor Olayemi Cardoso to be present during today’s proceedings, but neither the governor nor a representative of the governor showed up.

The CBN’s refusal to present these documents represents the latest in a growing list of instances in the Gambaryan case where government officials have frustrated the defense by rebuffing court requests and orders, as one of the lawyers stressed.

“We can’t be confronting correctional officers and then the CBN. They should respect the order,” he argued, referencing the refusal of Nigerian Correctional Service officers to provide Gambaryan’s medical records despite multiple court orders, including a bench warrant for the Kuje Prison doctor, Dr. Abraham Ehigozie.

Meanwhile, as the case trudges on, Tigran Gambryan’s condition worsens.

Binance’s Gambaryan in Excruciating Pain

On Monday, September 2, Binance’s Tigran Gambaryan appeared in court clutching a walking stick instead of in a wheelchair as he did in the previous hearing . Gambaryan’s lawyer, Mark Modi, however, moved to dispel any notion that this was a sign of progress. According to Modi, prison officials took away the wheelchair to prevent further bad press.

Indeed, the Binance executive appeared to be in significant pain. Grimacing and wincing, Gambaryan was only able to make it to the dock at the front of the pew with the support of one of his lawyers in addition to the cane.

"My client's health has continued to deteriorate, he is unable to move without assistance. He was weeping when he got here this morning," Modi stressed.

According to the lawyer, in light of Gambaryan’s deteriorating health, the defense submitted a bail application for the Binance executive on medical grounds on August 28. Whether and when there will be a hearing on this application, however, remains to be seen as the prosecution argues that Gambaryan’s medical woes are being exaggerated.

The Binance executive’s mobility impairments come as a herniated disk condition has rapidly deteriorated in Nigerian prison—a deterioration that has only been hastened by reported negligence from officials who have rebuffed demands to provide him access to adequate healthcare and orders to provide his medical reports in court.

In previous family statements, Gambaryan’s wife, Yuki Gambaryan, has raised concerns that the Binance executive’s condition could become permanent if he does not undergo the required surgeries soon.

Despite the controversial circumstances around Gambaryan’s detention and his worsening health condition, however, the President Joe Biden-led administration has remained eerily quiet about his case.

Biden Administration Dragging Its Feet?

So far, Gambaryan’s extended detention in Nigeria has attracted the attention of the Chamber of Digital Commerce , a cross-section of U.S. lawmakers , former prosecutors and former IRS agents . All of whom have called on the Biden administration to treat the Binance executive as “unlawfully detained” under the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act. However, the Biden administration has yet to heed these calls, choosing to remain quiet on the matter.

The unlawfully detained label typically signals that the U.S. government has intensified its efforts to secure a citizen’s release from perceived unlawful foreign detention. These efforts can include diplomatic talks and even sanctions.

On the Flipside

• Correctional Service officers have faced no consequences for failing to heed court orders pertaining to Gambaryan’s welfare, raising questions over whether the CBN can be held accountable.
• Gambaryan has previously been denied bail for allegedly being a flight risk, even though his travel documents remain in the possession of the Office of the National Security Adviser, which ceased them during his initial detention in February 2024.

Why This Matters

Over six months later, Tigran Gambaryan’s detention continues to take a massive toll on him and his family while setting a scary precedent for U.S. crypto workers abroad. The continuous delays cause greater frustration for all involved.

Read this to find out how Gambaryan found himself in this condition:
Binance’s Gambaryan Still Detained After 6 Months: Where Are the Answers?

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