front pagePolicy supervisionBinance executive faints during Nigerian court trial

Binance executive faints during Nigerian court trial

Published on

spot_img

Binance exec faints during money laundering trial in Nigeria

Health issues interrupted the trial, which was adjourned for medical treatment.

Binance faces charges of foreign exchange violations and tax evasion in Nigeria.

Binance Nigeria

read
CoinChapter.com
exist
Google News
Luxor (CoinChapter.com) – Binance executive Tigran Gambaryan fainted during a court hearing in Nigeria. He appeared before the Federal High Court in Abuja on May 22 to hear charges of foreign exchange violations and money laundering filed by Nigeria’s Economic and Financial Crimes Commission (EFCC) on May 22.

According to local media reports, Gambarian had told the court that he was unwell on the morning of May 22. This caused him to miss another arraignment on tax evasion charges filed by Nigeria’s Federal Inland Revenue Service (FIRS). He did, however, attend the Federal High Court hearing on the money laundering case against him.

A sudden faint or an intentional act?

The court clerk called the court to order during the money laundering trial against Binance. Gambarian did not respond and remained seated in the back row. Judge Emeka Nwite noted the executive’s absence and asked for an explanation. In response, Gambarian’s lawyer, Mark Mordi, then helped him walk to the dock.

However, in a shocking moment, Gambarian suddenly fainted before walking to the dock. His lawyer had to help him sit in the front row. Mordi explained to the court that a written application detailing Gambarian's poor health had been submitted in advance.

Binance’s trial in Nigeria adjourned, bail denied

Citing his sudden collapse, Gambarian’s lawyers requested an adjournment to allow the Binance executive to receive medical treatment. Moordi argued that it was “not feasible” to proceed with the case while the client was experiencing a medical emergency.

The court then fixed June 20 and 21 for cross-examination and continuation of trial. On May 16, the judge rejected Gambarian’s bail application. Emeka Enwet raised the EFCC’s concerns that Gambarian, who is currently detained at the Kuje Correctional Centre in Abuja, might flee if released.

Gambarian was transferred to the Kuje Correctional Centre, Abuja in April 2024 after he pleaded not guilty to money laundering charges filed by the EFCC.

You might also like:
Binance fires employee who found evidence of DWF Labs misconduct – report
Binance CEO claims coercion attempt

More broadly, the Nigerian government has accused Binance of improperly influencing foreign exchange rates through its cryptocurrency trading operations. In March, the FIRS filed tax evasion charges against Binance and its executives, Gambarian and Nadeem Anjarwalla. The charges included failure to register with the FIRS, failure to pay corporate income tax, failure to pay value-added tax, and facilitating tax evasion.

These legal issues led to Binance’s effective exit from Nigeria’s cryptocurrency market. Binance announced on March 5 that it would halt all trading denominated in the Nigerian naira. It had already delisted all naira trading pairs from its peer-to-peer platform in late February.

In a statement, Binance CEO Richard Teng claimed that during meetings in early 2024, Nigerian authorities attempted to illegally pressure the exchange’s representatives to pay for an informal and external settlement agreement in cryptocurrency.

Latest Articles

香蕉价格反弹乏力,卖方重掌市场后逐渐回落

LUCKNOW (CoinChapter.com)—2025年3月16日,香蕉枪(BANANA)的价格飙升至20美元,但随后上涨势头减弱,逐渐平息。该代币原本有望在该领域超越其他竞争者,但最终还是受到...

Hedera价格预测:是否会飙升至8美元?随着Lightchain AI吸引主要投资者,市场展望乐观

Hedera价格预测显示,它可能会飙升至8美元,围绕该项目的看涨前景正在逐渐形成。随着Hedera的势头增强,Lightchain AI也在吸引重要投资者,已经在预售阶段以0.006美元的价格筹集了超...

卡尔达诺触发重大买入信号,FXGuys预售目标在2025年第三季度达到1000万美元

Cardano(ADA)发出明确的买入信号,激励交易者和机构支持者 ADA似乎有可能因更高的资金流入和积极的技术信号而上涨。然而,随着Cardano的发展,FXGuys的第三阶段预售突破450万美元...

帕维尔·杜罗夫获准离开法国,正值法律纠纷期间

YEREVAN (CoinChapter.com) — Telegram创始人帕维尔·杜罗夫(Pavel Durov)在2025年3月13日获得法国法院批准后,离开法国并前往迪拜。他的离开紧随2024...

More Articles

香蕉价格反弹乏力,卖方重掌市场后逐渐回落

LUCKNOW (CoinChapter.com)—2025年3月16日,香蕉枪(BANANA)的价格飙升至20美元,但随后上涨势头减弱,逐渐平息。该代币原本有望在该领域超越其他竞争者,但最终还是受到...

Hedera价格预测:是否会飙升至8美元?随着Lightchain AI吸引主要投资者,市场展望乐观

Hedera价格预测显示,它可能会飙升至8美元,围绕该项目的看涨前景正在逐渐形成。随着Hedera的势头增强,Lightchain AI也在吸引重要投资者,已经在预售阶段以0.006美元的价格筹集了超...

卡尔达诺触发重大买入信号,FXGuys预售目标在2025年第三季度达到1000万美元

Cardano(ADA)发出明确的买入信号,激励交易者和机构支持者 ADA似乎有可能因更高的资金流入和积极的技术信号而上涨。然而,随着Cardano的发展,FXGuys的第三阶段预售突破450万美元...
en_GBEnglish