As a seasoned crypto investor with a knack for staying abreast of global market trends, I find myself deeply concerned about the ongoing saga involving Binance and the Nigerian Securities and Exchange Commission (SEC). The repeated denial of bail for Tigran Gambaryan, Binance’s head of financial crime compliance, is troubling.
The legal dispute between the Nigerian Securities and Exchange Commission (SEC) and the global leader in cryptocurrency trading, Binance, is still unresolved. Recently, a judge turned down a second request for bail from the executive of Binance who has been held in custody in Nigeria since February.
Based on news from local source Nairametrics, Justice Emeka Nwite declined the second bail request by Binance’s head of financial crime compliance, Tigran Gambaryan, during a court hearing at the Federal High Court in Abuja last Friday. This was because an appeal related to his initial bail application was still under review.
Binance Exec Denied Bail Again
Since February, Gambaryan has been held by Nigerian officials, but following the escape of Binance’s former African regional manager, Nadeem Anjarwalla, during a prayer session at a mosque they both attended, he was transferred to Kuje prison, a notorious facility.
In a recent case, the Nigerian Economic and Financial Crimes Commission (EFCC) has indicted Gambaryan for money laundering. They claim that he conspired with Binance to conceal approximately $35.4 million, which was generated from illegal activities such as foreign exchange transactions within Nigeria.
As a crypto investor closely following the Binance case, I’ve been watching as the executive, facing charges, maintains his innocence. However, his legal representative, Mark Mordi, has found it challenging to secure his release on bail. Despite pointing out the inhumane prison conditions and the executive’s deteriorating health, the request has yet to be granted.
No New Facts on Gambaryan’s Medical Issues
In the latest court hearing regarding Gambaryan’s initial bail request, the lawyer representing the Economic and Financial Crimes Commission (EFCC) challenged the health concerns raised by Gambaryan’s legal team. They presented a medical report from a clinic in Abuja, suggesting that Gambaryan was not adhering to prescribed medications and diet. Furthermore, the EFCC’s lawyers disputed claims about Gambaryan’s inability to walk due to a herniated disc and requirement for surgery overseas, contending that Nigerian medical experts were capable of managing his condition.
It seems that Judge Nwite initially rejected the initial bail request, but Mordi contested this decision. As the appeal is ongoing, Gambaryan’s legal representative has submitted another application, asking for his client to be released under lenient conditions or even granted a six-week bail due to health issues.
Nevertheless, the judge deemed the recent petition as an unwarranted interference with judicial proceedings, given the ongoing appeal concerning the initial ruling. Nwite asserted that the new application lacks fresh facts regarding medical treatment since the EFCC had previously confirmed that Nigerian hospitals are capable of treating the Binance executive.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AEVO PREDICTION. AEVO cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- REF PREDICTION. REF cryptocurrency
- FutureNet Co-Founder Roman Ziemian Arrested in Montenegro Over $21M Theft
- ZETA PREDICTION. ZETA cryptocurrency
- JGN PREDICTION. JGN cryptocurrency
- PERI PREDICTION. PERI cryptocurrency
- MXC PREDICTION. MXC cryptocurrency
2024-10-11 17:48