Binance Exec's Health Crisis Sparks Fresh Bail Request Amid $35M Money Laundering Charges

Tigran Gambaryan, a Binance executive held in Nigeria since February, made a fresh bail application on health grounds. He faces charges of laundering $35 million alongside other Binance officials. His lawyer argued his health is deteriorating in custody, but prosecutors opposed the request. The case continues Wednesday.

Tigran Gambaryan, a prominent executive at Binance, has been in detention in Nigeria since February and made a fresh bail application on medical grounds this Monday. However, lawyers for Nigeria's economic crimes agency have opposed this request.

Gambaryan, a U.S. citizen, along with Binance's British-Kenyan regional manager for Africa, Nadeem Anjarwalla, have been accused of laundering over $35 million. Binance, the world's leading cryptocurrency exchange, is also facing additional accusations of tax evasion.

During a High Court session in Abuja, Lawyer Mark Mordi stressed that Gambaryan's health is deteriorating in prison, leading to another bail plea. Previously denied in May, Gambaryan claims to be suffering from a herniated disc, malaria, and pneumonia. Yet, a lawyer for the Economic and Financial Crimes Commission opposed the application, arguing Gambaryan's condition isn't new. The case will reconvene on Wednesday.

(With inputs from agencies.)