EFCC Urges Court to Deny Bail for Binance Employee Amid Alleged Escape Plot

The Nigerian Economic and Financial Crimes Commission (EFCC) is making headlines once again as they urge the Federal High Court to deny bail to Binance employee, Tigran Gambaryan. The EFCC has raised concerns about Gambaryan’s alleged attempt to obtain a new passport in order to escape the country after his original passport was seized by the agency.

According to reports, Gambaryan, along with Binance Holdings Limited and another employee, Nadeem Anjarwalla, are facing money laundering charges brought forth by the EFCC. Anjarwalla has already managed to escape custody, prompting fears that Gambaryan may also attempt to flee.

The EFCC’s lawyer, Emeka Iheanacho, expressed concerns about granting bail to Gambaryan, citing the risk of him fleeing the country. Iheanacho highlighted the case of Anjarwalla, who escaped to Kenya despite his passport being held by Nigerian authorities.

In response, Gambaryan’s lawyer, Mark Modi, argued that his client had no intentions of fleeing and described his continued detention as a form of hostage-taking by the state. Modi emphasized that the prosecution had failed to provide credible evidence to justify denying bail to Gambaryan.

After hearing arguments from both sides, Justice Nwite has postponed the ruling on Gambaryan’s bail plea until May 17, 2024. The case has garnered significant attention, with many eagerly awaiting the court’s decision on whether Gambaryan will be granted bail and under what conditions.

The saga involving Gambaryan, Binance, and the EFCC continues to unfold, with the outcome of this court hearing likely to have far-reaching implications. Stay tuned for further updates on this developing story.