The James W. Foley Legacy Foundation has reported that Nigerian authorities have denied bail to Binance employee Tigran Gambaryan, a former U.S. federal agent, despite his eligibility for bail and deteriorating health conditions. The Foundation shared this information in an October 11 post on X.
"Tigran Gambaryan was denied bail today, despite meeting conditions for bail, and his deteriorating health," said W. Foley Legacy Foundation. "Tigran has been unjustly detained by the government of Nigeria since February. The prosecution has stated in court that Tigran is only being detained as a way to get to his employer. No responsible government uses human beings, like the government of Nigeria is using Tigran."
According to CoinDesk, Gambaryan was invited by Nigerian government officials to Abuja in February to engage in compliance discussions. However, he was accused of devaluing the naira and subsequently placed under house arrest. He was later charged with financial crimes and transferred to Kuje prison, where his health reportedly worsened. Gambaryan contracted malaria in May and collapsed in court; by June, he required a wheelchair due to a herniated disc in his back. His wife expressed concerns about the risk of "permanent damage" without proper medical treatment.
The Block reported that Gambaryan's bail decision was postponed on September 2 and ultimately denied on October 11. His family said that the decision came despite "clear evidence of medical requirement" for his release to receive necessary medical care. Gambaryan has suffered from various ailments during his incarceration, including malaria, pneumonia, and tonsillitis, and struggles with mobility due to his untreated herniated disc.
Gambaryan's attorneys indicated that his poor health has hindered their ability to prepare for his money laundering trial. A Binance spokesperson said that Gambaryan "has been unlawfully detained for over 220 days," emphasizing that he did not travel to Nigeria as a decision-maker and urging for his release so he can return home.
Gambaryan joined Binance in September 2021 after serving ten years as a special agent for the U.S. Internal Revenue Service (IRS). During his tenure at the IRS, he investigated cases related to national security, terrorism financing, identity theft, child pornography distribution, tax evasion, and bank secrecy act violations. He also led significant cyber investigations involving Silk Road corruption cases and bitcoin exchanges BTC-e and Mt. Gox.
The James W. Foley Legacy Foundation is dedicated to advocating for Americans unjustly held captive abroad. It was established by the parents of James Foley following his kidnapping in Syria in 2012 and subsequent execution by ISIS in 2014.