Binance Executive’s Health Deteriorates as Nigerian Detention Reaches Six-Month Mark

In a case that has drawn international attention, Tigran Gambaryan, a former U.S. federal agent and current executive at cryptocurrency exchange Binance, has now been detained in Nigeria for six months. Binance CEO Richard Teng has issued an urgent call for U.S. intervention, citing Gambaryan’s rapidly deteriorating health and what the company considers unjust detention practices.

According to Teng’s statement released on August 27, 2024, Gambaryan is suffering from severe pain due to a herniated disc, rendering him unable to walk. Despite his condition, Nigerian authorities have allegedly denied him adequate medical care, including basic necessities such as a wheelchair. The situation has raised serious concerns about Gambaryan’s physical and mental well-being.

Gambaryan’s wife, Yuki, has made a public plea for her husband’s release, stating that he is “reaching a breaking point” and needs immediate medical treatment to prevent potentially irreversible damage. The family reports that Gambaryan has battled multiple bouts of malaria and pneumonia during his detention.

The case against Gambaryan and Binance involves allegations of money laundering and tax evasion, charges which both the company and Gambaryan deny. Binance maintains that there is no need to imprison an innocent employee to address allegations against the company, pointing to their track record of resolving regulatory issues in other countries without harm to employees.

Initially scheduled for October 11, Gambaryan’s trial has been moved forward to September 2 following a request from the defense team. This development comes amid reports that Gambaryan’s legal counsel has faced significant obstacles in preparing for the trial, including limited access to their client.

Teng has called on the U.S. government to designate Gambaryan as an “unlawfully detained” citizen overseas and to exert political pressure for his release on humanitarian grounds. The case has already attracted attention from U.S. lawmakers, with some members of Congress visiting Gambaryan in prison and calling for his immediate release.

As the cryptocurrency industry watches this case unfold, it raises important questions about the intersection of international business, regulatory compliance, and human rights. The outcome may have significant implications for how global crypto companies navigate complex regulatory landscapes in emerging markets.