Federal High Court Adjourns Bail Application Hearing for Binance Executive Accused of Money Laundering

The case of the detained Binance executive, Tigran Gambaryan, took an interesting turn today as Justice Emeka Nwite of the Federal High Court, Abuja, adjourned the hearing of his bail application till Tuesday. Gambaryan, along with his company, Binance Holdings Limited, and colleague Nadeem Anjarwalla, who is currently on the run, are facing serious allegations of money laundering.

The Economic and Financial Crimes Commission (EFCC) has accused the trio of conspiring to conceal the origin of financial proceeds amounting to $35,400,000 from their alleged unlawful activities in Nigeria. The case has garnered significant attention, especially with Gambaryan’s plea of not guilty to the charges.

During today’s hearing, EFCC counsel, Ekele Iheanacho, requested more time to respond to a further affidavit served by Gambaryan’s lawyer, Mark Mordi (SAN). Mordi, however, contested this request, emphasizing the urgency of the bail plea due to his client’s detention.

Justice Nwite, while acknowledging the importance of a fair legal process, decided to adjourn the matter to allow both parties to respond to each other’s processes within the stipulated time frame. Gambaryan remains in detention at the Kuje Correctional Centre pending further developments in the case.

The Nigerian government is also actively pursuing the rearrest of Nadeem Anjarwalla to ensure he faces the charges brought against him by the EFCC and the Federal Inland Revenue Service. The unfolding events in this high-profile case continue to captivate the public’s interest as the legal battle unfolds. Stay tuned for more updates on this developing story.