The Federal High Court in Abuja has denied bail to Tigran Gambaryan, a senior executive at Binance Holdings, citing insufficient justification for his release despite health issues. Gambaryan has been in custody since February, facing allegations of money laundering and currency manipulation, with charges amounting to approximately $35.4 million.
During a recent hearing, Gambaryan’s attorney, Mark Mordi, presented arguments claiming that his client was in “perilous” health due to a herniated disc and was also suffering from depression and anxiety. Mordi requested a six-week medical bail to allow Gambaryan to seek proper treatment outside of the correctional facility, stating that the care provided in custody was inadequate. However, the prosecution’s lawyer, Ekele Iheanacho, opposed this, arguing that Gambaryan’s medical conditions were exaggerated and that he had been receiving appropriate care at Kuje Correctional Facility.
Iheanacho highlighted that Gambaryan had access to treatment at reputable medical institutions, including the State House Clinic and Nizamiye Hospital. He asserted that Gambaryan’s health was stable and manageable within the correctional environment, as there was no evidence of serious illness that warranted bail. Despite the defense’s assertions regarding Gambaryan’s deteriorating health, Justice Emeka Nwite ruled against the bail application, stating that Gambaryan was under adequate care from Nigerian medical professionals.
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