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Foreign Currency

Nigerian court adjourns trial of Binance executive due to illness


ABUJA, Oct 18 (Reuters) – A Nigerian court on Friday adjourned the trial of detained Binance executive Tigran Gambaryan after it was stalled because he could not appear in court due to illness.

Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, has been in detention in Nigeria since late February and has been charged with laundering more than $35 million. Gambaryan and Binance deny the charges.

Federal High Court judge Emeka Nwite in the capital Abuja postponed the trial to Oct. 25 to allow him get medical attention.

Judge Nwite denied Gambaryan bail a second-time last week, citing the prison’s ability to address his medical needs. Gambaryan had requested release due to his declining health and the need for surgery outside prison.
In August, Gambaryan’s wife, Yuki, said her husband’s health had deteriorated in prison to the point where “it might leave permanent damage and affect his ability to walk.” She has asked for him to be freed and has vowed to continue to fight for his release.

Binance separately faces tax evasion charges, which it also denies.

The exchange stopped all transactions and trading in Nigeria’s naira after a country-wide crackdown on crypto exchanges that authorities blamed for feeding a black market for foreign currency.

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Reporting by Camillus Eboh; Writing by Elisha Bala-Gbogbo; Editing by Louise Heavens

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