Gambaryan Denied Bail in Nigerian Court

Tigran Gambaryan spent his 40th birthday in a Nigerian court on Friday, facing a disappointing but expected outcome — a judge refused to grant him bail.

Gambaryan, the head of financial crime compliance at Binance, has been detained since late February when he arrived in Nigeria for discussions with the government regarding the crypto exchange’s operations. His trial for a $35 million money laundering charge began on Friday.

Justice Emeka Nwite of the Federal High Court in Abuja ruled against Gambaryan’s bail, agreeing with the prosecution that he was a flight risk. The judge also pointed out that Binance “doesn’t have a face” in Nigeria, highlighting the company’s lack of a physical presence in the country, as reported by DL News.

Gambaryan’s wife, Yuki, expressed her distress over his extended detention. “I cannot believe my innocent husband is now — on his 40th birthday — facing trial for charges he is not involved in,” she said in an emailed statement to DL News. “The world is watching his ordeal, and I pray that justice and common sense prevail so Tigran can return home.”

The denial of bail came during a final preliminary hearing before the start of a combined trial for money laundering and tax evasion by Nigeria’s government against Binance and Gambaryan. The Economic and Financial Crimes Commission is handling the money laundering case, while the Federal Inland Revenue Service is prosecuting the tax evasion charge.

Gambaryan, a former US Internal Revenue Service agent, pleaded not guilty to the money laundering charge on April 8. However, several procedural issues disrupted the bail process. His lawyers in the tax violation case had previously tried to prevent him from being served on Binance’s behalf. Justice Nwite sided with the prosecution, allowing both cases to proceed together.

A Binance spokesperson expressed disappointment over Gambaryan’s continued detention, stating, “Tigran Gambaryan, who holds no decision-making power in the company, remains detained unjustly. He has dedicated his life to public service and fighting crime. These charges are baseless. He should be released while Binance continues discussions with Nigerian officials.”