Binance exec denied legal counsel as health declines

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As a seasoned researcher with a keen interest in global financial systems and human rights, I find myself deeply troubled by the ongoing ordeal of Tigran Gambaryan, a Binance executive currently detained in Nigeria. My personal experiences have taught me that justice should never be delayed, especially when it comes to matters concerning an individual’s health and wellbeing.

Reportedly, executive Tigran Gambaryan of Binance is being denied access to a lawyer and medical care while he’s imprisoned due to criminal accusations in Nigeria.

During a previous court appearance on July 16, Gambaryan was brought into the Federal High Court in Abuja due to his declining health while incarcerated at Kuje prison. Judge Emeka Nwite subsequently issued an arrest warrant for the medical professional working at the facility.

Despite reports suggesting that penalties were ineffective, it appears that the detained Binance executive, Gambaryan, is struggling with multiple back problems and other health issues, as stated by his family to crypto.news on August 12.

“Yuki Gambaryan, partner of the imprisoned cryptocurrency exchange worker, pleaded with the Nigerian government to grant his immediate release so that he can return home for essential medical care before it’s too late,” (paraphrased statement)

In approximately six months by the date of his next court appearance on October 11th, Gambaryan will have already spent that time behind bars, as he finds himself caught up in a prolonged legal dispute between Nigerian officials and Binance, the leading global centralized cryptocurrency exchange.

Nigeria outlaws crypto P2P on Binance, other exchanges

In February, Gambaryan and another Binance team member, Nadeem Anjarwalla, arrived in Nigeria. Shortly after their arrival, they were taken into custody by local authorities. The reason for their visit was to discuss a potential solution between Binance (Crypto Exchange) and the Nigerian government.

As a researcher, I’d rephrase it as follows: While Anjarwalla managed to evade arrest and left the nation, Gambaryan chose to stay behind and faced charges of tax evasion and money laundering. Gambaryan strongly refuted these accusations and retaliated with a lawsuit claiming violations of his human rights. The CEO of Binance, Richard Teng, appealed for Gambaryan’s freedom in Nigeria, emphasizing that he held no authority to make decisions within the organization.

Teng further asserted that certain unnamed authorities demanded a large sum as a silence payment, a charge which was later dismissed by a government representative.

U.S. political figures urged President Joe Biden to intervene, given that Gambaryan holds American citizenship and was previously an Internal Revenue Service agent. In a letter penned in June, they expressed concern for his wellbeing amidst the prolonged predicament.

As an analyst, I find myself contributing to a broader clampdown on cryptocurrency exchanges within Nigeria’s borders. The African nation has been experiencing a mass departure of platforms, particularly those operating in the decentralized peer-to-peer crypto market. Notable digital asset service providers such as Binance, KuCoin, and OKX have ceased P2P trading activities and scaled back certain services within the country. In my professional assessment, Gambaryan’s case is simply one piece of a larger puzzle in this ongoing regulatory landscape for cryptocurrencies in Nigeria.

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2024-08-12 17:12