Tigran Gambaryan, a high-ranking Binance executive and a former US agent, fainted during his money laundering trial on Thursday in Abuja, Nigeria. This dramatic event on the second day of the trial raises concerns about his health after eight weeks in prison, media reports said.
Gambaryan, who heads Binance’s financial crime compliance, appeared frail and stressed throughout the proceedings. His lawyer, Mark Mordi, attributed the fainting to deteriorating health and presented a doctor’s note, though details of the condition were withheld.
The judge, Emeka Nwite, granted an adjournment until June 20th and 21st to allow Gambaryan to receive medical attention.
This incident marks a significant development in the ongoing legal battle between Binance and Nigerian authorities. The world’s largest cryptocurrency exchange faces money laundering charges linked to $35 million in transactions, alongside separate tax evasion accusations.
Both Binance and Gambaryan have denied the money laundering charges. Gambaryan himself pleaded not guilty, but his request for bail was denied due to flight risk concerns.
Further complicating the situation, Binance CEO Richard Teng recently accused Nigerian officials of demanding a $150 million bribe. This claim has drawn fresh criticism towards the company.
The legal proceedings have faced numerous setbacks. The tax evasion trial was stalled when Gambaryan failed to appear due to reasons not disclosed by prison authorities. Additionally, Gambaryan’s colleague, Nadeem Anjarwalla, escaped custody using a Kenyan passport and is currently an Interpol fugitive.
The initial regulatory dispute between Binance and Nigeria has escalated into a full-blown criminal case. Nigerian authorities accuse Binance of facilitating foreign exchange racketeering through its platform, impacting the country’s currency.
