COURT DENIES FRESH BAIL APPLICATION OF BINANCE EXECUTIVE, GAMBARYAN

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Justice Emeka Nwite of the Federal High Court in Abuja has denied the imprisoned Binance Holdings Executive Tigran Gambaryan’s new bail plea.

Justice Nwite denied the plea for bail on medical grounds, citing that renowned Nigerian medical specialists were already managing his condition.

However, the judge directed the Nigerian Correctional Service to refer Gambaryan to a quality hospital in Abuja for three to two weeks of treatment under security surveillance.

He then adjourned the matter to October 18, November 22, and November 25 for further trial. Mark Mordi, Gambaryan’s counsel, had claimed that his client’s health was “perilous.” He indicated that his client needed surgery for a herniated disc and psychological treatment owing to despair and anxiety.

Mordi asked for six-week bail for Gambaryan so that he could seek proper medical assistance outside of prison, alleging poor care in captivity.

Ekele Iheanacho, an EFCC lawyer, opposed the defence’s assertions, claiming that they inflated the gravity of Gambaryan’s health. He claimed that the second defendant might obtain treatment while incarcerated at Kuje Correctional Facility, claiming that his condition was not bad enough to warrant bail.

Iheanacho stated that Gambaryan had been taken to prestigious medical facilities such as the State House Clinic and Nizamiye Hospital, and that a medical report from the State House Clinic showed that he had refused medication and treatment.

He went on to say that according to reports from Nizamiye Hospital, Gambaryan received comprehensive care and his health did not deteriorate.

Iheanacho reiterated that it had not been demonstrated that Gambaryan’s health condition could not be managed by the Nigerian Correctional Service. He claimed, “Experts have been engaged, and the NCS is taking care of him. The results so far show no serious illness. Complaints have been sent to the National Security Adviser.”

Gambaryan is facing $35.4 million in money laundering charges brought against him by the Economic and Financial Crimes Commission.