Binance Executive Tigran Gambaryan Calls Out Harsh Treatment in Nigerian Detention

Jimmy Aki
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On September 2, the video of Tigran Gambaryan, a detained Binance executive facing money laundering charges, went viral as he publicly protested his treatment by Nigerian authorities. He was seen in the video crying out in pain and pleading for support as he struggled to walk with a crutch.

Tigran Gambaryan Pleads for Support

In a viral video circulating on X, Tigran Gambaryan, a senior executive at Binance, is seen in distress, crying out in pain as he struggles to walk with a single crutch.

The video captures Gambaryan pleading with a Nigerian security personnel for assistance but was denied help.

“The guard was told not to help me,” Gambaryan exclaims, adding, “This is messed up! Why can’t I use a goddamn wheelchair?”

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The incident occurred in Abuja, where the Federal High Court is handling the case. On September 2, Gambaryan’s legal team filed a new bail application, citing medical grounds.

They highlighted the severe health conditions Gambaryan has developed while in detention, including malaria, pneumonia, tonsillitis, and a herniated disc that has left him nearly immobile. Despite these concerns, Nigeria’s Economic and Financial Crimes Commission (EFCC) opposed the bail request, arguing that Gambaryan was not in poor health.

Recall that Tigran Gambaryan, a 39-year-old American who serves as Binance’s head of financial crime compliance, was detained by Nigerian authorities on February 28, alongside 37-year-old Nadeem Anjarwalla, a British-Kenyan regional manager for Africa at Binance. The two executives were accused of conspiring to conceal the origins of $35,400,000 linked to alleged unlawful activities in Nigeria.

In response to the recent denial of bail, Yuki, Tigran Gambaryan’s wife, expressed her frustration, accusing Nigerian authorities of “playing with my husband’s life” amid the ongoing health concerns.

Her statement followed the court’s decision to adjourn proceedings related to the money laundering case and the bail application until September 4, 2024. The presiding judge also ordered that the Binance executive must be allowed to use a wheelchair to ease movement.

Binance CEO Richard Teng Tags Gambaryan Treatment as “Inhumane”

Binance CEO Richard Teng has publicly condemned the Nigerian government for its treatment of Tigran Gambaryan.

In a September 3 post on X, Teng reposted the viral video showing Gambaryan struggling to walk into a courtroom, citing that the executive treatment is inhumane.

Meanwhile, Ekene Iheanacho, lead counsel for Nigeria’s Economic and Financial Crimes Commission (EFCC), contradicted these claims, stating that he had observed Gambaryan walking within the detention facility, casting doubt on the severity of his condition.

The ongoing case between Nigeria and the Binance executive has sparked international attention, raising questions about the treatment of foreign nationals and the broader implications for international business relations.

Notably, Binance has been embroiled in a legal dispute with different local regulators on money laundering charges, as evidenced by Nigeria and the United States. On August 16, three investors filed a new lawsuit against Binance and its former CEO, Changpeng Zhao, for failing to prevent the laundering of stolen funds on the platform.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.