Earlier today the detained Binance executive Tigran Gambaryan slumped during his trial. This has raised concerns about his well being.
Medical Condition Of The Binance Executive and Court Proceedings
Tigran Gambaryan’s health became a significant issue during his trial at the Federal High Court in Abuja.
His lawyer, Mark Mordi (SAN), told the court that the binancr executive had not been feeling well since the last trial date, raising concerns about his ability to fully participate in the proceedings.
During the court session, the Binance executive collapsed while a lawyer was helping him to the dock. This led to a request for a break to allow him to receive proper medical attention. Mordi provided a letter detailing his client’s health problems, highlighting the need for immediate medical help.
Justice Emeka Nwite, presiding over the court, granted the request for a break and scheduled the trial to resume on June 20 and 21 and this shows the court’s understanding of the seriousness of the Binance executive’s health condition and the importance of ensuring his well-being during the trial.
See Also: Binance Exchange Accuses The Nigerian Government of Demanding $150 Million Bribe In Crypto
EFCC’s Allegations and Legal Proceedings
The EFCC accused Binance and its executives, including Tigran Gambaryan, of conspiring to conceal financial proceeds from unlawful activities in Nigeria, totaling $35,400,000.
The EFCC specifically highlighted Binance’s Naira peer-to-peer (P2P) virtual feature, which it claimed devalued the Nigerian currency and adversely affected the official exchange rate.
These allegations led to legal action against Binance, with the trial commencing in the Federal High Court Abuja.
The SEC, as the regulatory body overseeing the capital market, expressed concerns about Binance’s impact on the official exchange rate through its Naira P2P feature.
The SEC’s actions against Binance reflect broader regulatory efforts to ensure compliance with Nigerian laws and protect the country’s financial stability.
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