# Binance’s Head of Financial Crime Compliance Denied Bail in Nigeria
## Trial on Money Laundering Charges Begins
### Corrected Title and Headline
In a significant development, the head of financial crime compliance at Binance, Tigran Gambaryan, was denied bail for a second time in Nigeria. This decision comes as his trial on money laundering charges commenced in the country.
### Background
– Tigran Gambaryan, an American citizen, has been in detention in Nigeria since the end of February.
– Both Gambaryan and Binance have vehemently denied the charges against him.
### Denial of Bail
– Gambaryan had sought bail on medical grounds, citing the need for surgery outside of prison and his deteriorating health.
– Despite his plea, the judge ruled that the prison where he is held can adequately address his medical needs.
– Judge Emeka Nwite emphasized that there is no evidence suggesting the Nigerian Correctional Service cannot handle Gambaryan’s health challenges.
– The judge also highlighted that Gambaryan had not withdrawn an appeal against a previous bail ruling in May, making his latest request an abuse of judicial process.
### Trial Proceedings
– The trial has been adjourned to October 18 after Gambaryan’s lawyer cross-examined two state witnesses.
– Gambaryan’s wife, Yuki Gambaryan, expressed her disappointment and determination to fight for her husband’s freedom.
– She hopes that the damage her husband is enduring during his detention is not permanent.
– Binance is facing separate tax evasion charges, which the company denies.
In conclusion, the denial of bail to Binance’s head of financial crime compliance, Tigran Gambaryan, amidst his trial on money laundering charges in Nigeria, underscores the gravity of the situation. The legal proceedings, coupled with the denial of bail, signify the complexities and challenges individuals and organizations face in navigating financial compliance and legal matters on a global scale. This case serves as a stark reminder of the importance of adhering to financial regulations and the potential consequences of non-compliance. It underscores the need for vigilance, transparency, and accountability in the financial sector to maintain trust, integrity, and legality in all operations.