Tension ran high at the Federal High Court in Abuja on Monday as Tigran Gambaryan, a detained executive from Binance, filed a new bail application citing medical reasons. Gambaryan, who has been in custody for over six months, is facing charges of money laundering amounting to $35.4 million alongside another Binance executive.
The courtroom became a battleground as the Economic and Financial Crimes Commission (EFCC) opposed the bail application, arguing that Gambaryan’s health condition was not severe enough to justify his release. This led to heated exchanges between the legal teams, further intensifying the drama.
Gambaryan’s counsel, Mark Mordi, passionately argued for his client’s release, highlighting the deteriorating state of his health. Mordi informed the court that the fresh bail application was submitted on August 28, 2024, after Gambaryan’s condition worsened. He emphasized that his client now requires crutches for mobility and that the detention facility has denied him access to a wheelchair, citing concerns over the prison’s image.
“My client’s health has significantly deteriorated, yet he is forced to rely on crutches because the prison authorities have refused to provide a wheelchair, claiming it would reflect poorly on the facility,” Mordi told the court.
However, the EFCC’s lead counsel, Ekene Iheanacho, vehemently opposed the application, dismissing the claims of a serious health condition. Iheanacho argued that Gambaryan has been living with this condition for 12 years and is receiving adequate medical attention at the Kuje Prison, where he is currently held.
“I have reviewed the medical report, and it clearly shows that the condition is not as serious as claimed,” Iheanacho stated.
The presiding judge has reserved ruling on the bail application, further extending the already prolonged legal battle. The case continues to attract significant attention, given the high-profile nature of the defendants and the substantial amount of money involved in the charges.
As the trial resumes, all eyes remain on the Federal High Court, where the fate of Tigran Gambaryan, and by extension, the reputation of Binance in Nigeria, hangs in the balance.
