Binance Executive Collapses in Nigerian Court Amid Money Laundering Trial

During a trial in Nigeria, Tigran Gambaryan, a Binance executive, collapsed in the Federal High Court in Abuja amid proceedings for alleged foreign exchange violations and money laundering charges brought against him by the Nigerian Economic and Financial Crimes Commission (EFCC). Gambaryan, who had missed a court appearance earlier on tax evasion charges, was present for the money laundering trial but experienced health issues. His legal representative informed the court of Gambaryan's condition, leading to an adjournment for medical treatment. Gambaryan had previously been denied bail due to concerns about flight risk. He was transferred to the Kuje Correctional Centre in April 2024 after pleading not guilty to money laundering charges. The Nigerian government has accused Binance, including Gambaryan, of tax evasion and influencing foreign exchange rates, prompting Binance to cease Nigerian naira transactions and delist Nigeria naira trading pairs.