Tigran Gambaryan, a jailed Binance executive, collapsed before the Federal High Court in Abuja during a foreign exchange and money laundering trial brought against him by the Economic and Financial Crimes Commission (EFCC).
His counsel, Mark Mordi (SAN), informed the court that Gambaryan had not felt well since the last trial date.
Nairametrics earlier reported that Abdulkadir Abbas, a director at the Securities and Exchange Commission (SEC), told the Federal High Court in Abuja that Binance Limited, a cryptocurrency exchange platform, utilized its Naira peer-to-peer (P2P) virtual feature to depreciate Nigerian currency.
Abbas, who identified himself as the Director of Exchanges and Market Infrastructure (SEC), told Justice Emeka Nwite on Friday that Binance’s Naira P2P feature and the number of people on the platform “adversely affected the official exchange rate.”
Creebhills reports that the Nigerian government had accused Binance and its executives, Tygran Gambaryan and the fleeing Nadeem Anjarwalla, of conspiring to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria, including $35,400, 000.
The Nigerian authorities said they committed an offense contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The trial commenced last Friday after the judge declined Gambaryan’s bail request.
