Dramatic Turn in Courtroom
During a recent court hearing in Nigeria, Tigran Gambaryan, a Binance executive facing money laundering charges, collapsed due to alleged illness. Gambaryan’s health episode brought an unexpected twist to the ongoing legal battle between Binance and Nigerian authorities.
Trial Postponed
Gambaryan’s attorney, Mark Mordi, informed the court that his client was unwell and had filed a request to inform them of his condition. As a result, the trial was postponed.
Background of the Case
Nigerian authorities have accused Binance of facilitating illicit funds transfers without proper oversight. They have also alleged tax evasion, currency speculation, and money laundering.
Bail Denied
On May 16, the court denied Gambaryan’s bail application, citing concerns that he might flee if released. He remains in custody at the Kuje Correctional Centre.
Trial Rescheduled
The trial is now scheduled to continue on June 20 and 21.
Binance’s Response
Amidst the legal battle, Binance’s former regional manager for Africa, Nadeem Anjarwalla, escaped custody in Nigeria. He was later arrested in Kenya.
Market Impact
The native token of Binance, Binance Coin (BNB), has declined in price by 4% in the past 24 hours. This decline aligns with the broader market correction in cryptocurrencies.
