A Nigerian court is about to decide the fate of Tigran Gambaryan, a high-ranking Binance executive who’s been locked up for over half a year.
The Case of the Detained Exec
Gambaryan, who was in charge of fighting financial crime at the world’s biggest crypto exchange, has been in hot water with US lawmakers who think his arrest is unfair.
During a recent court hearing in Abuja, Gambaryan’s lawyer argued that his client desperately needs medical attention that the Nigerian prison system can’t provide. Gambaryan reportedly needs surgery and his health is a serious concern.
The prosecutor countered that Gambaryan has received adequate medical care in the prison hospital and a facility reserved for top government officials.
The Charges and the Controversy
Gambaryan was arrested in February and officially imprisoned in April. He’s facing serious charges, including currency manipulation and money laundering, brought by Nigeria’s Economic and Financial Crimes Commission.
His detention made headlines when he and a colleague were arrested during a trip to Nigeria to discuss compliance issues with local authorities. Things escalated in May when Binance claimed Nigerian officials demanded a secret payment of $150 million in cryptocurrency to settle the company’s regulatory problems. The Nigerian government has denied this accusation.
A Deteriorating Situation
Recently, a video surfaced showing Gambaryan looking weak and struggling to walk with crutches due to spinal problems. He expressed frustration in the video, saying prison guards were instructed not to help him and called the situation “f*cked up.” He also insisted on his innocence and claimed his treatment was unfair.
Binance’s CEO, Richard Teng, shared the video publicly, calling Gambaryan’s treatment “inhumane” and demanding his immediate release so he can get proper medical care.
US Lawmakers Weigh In
US lawmakers have also taken notice of Gambaryan’s situation, with a group of senior Republicans accusing Nigeria of holding him hostage. They’ve urged President Biden to intervene and secure his release.
While all this is going on, Binance Coin (BNB), the exchange’s native token, is trading at $508, down slightly in the past few days but still up overall.
