News

‘Sick’ Binance Executive, Gambaryan, Denied Fresh Bail By Federal Court

Published

2 months ago

Oct 11, 2024.

The Federal High Court in Abuja has rejected the bail application of detained Binance executive, Tigran Gambaryan.

Justice Emeka Nwite, who presided over the case, ruled on Friday that the fresh bail application amounted to an abuse of court process, as Gambaryan’s first bail application—based on health concerns—was already under appeal.

EDITOR’S PICKS

EKO HOT BLOG reports that Gambaryan’s lawyer, Mark Mordi (SAN), had requested bail on the grounds of his client’s serious health condition, submitting medical reports indicating a need for surgery. The defense claimed Gambaryan’s health could not be adequately managed in Nigeria, with his family stating that he could no longer walk due to a disk issue.

However, the Economic and Financial Crimes Commission (EFCC) contested the claims, presenting a medical report from the State House Annex Clinic in Abuja. The report indicated that Gambaryan had refused prescribed treatment and food during a medical evaluation in July 2024.

Justice Nwite emphasized that there were no new facts to justify the fresh application, stating that Nigerian medical facilities were equipped to handle Gambaryan’s condition. He noted that since an appeal was already pending, the court could not entertain another bail application on the same grounds.

Binance Executive Bail Court

Despite rejecting the bail request, the court directed the Nigerian Correctional Service to ensure Gambaryan receives medical care at a reputable hospital in Abuja under security supervision.

Gambaryan has been in custody since February 2024 over allegations of money laundering.