Federal High Court Abuja to Rule on Bail Application for Detained Binance Executive
Federal High Court to Rule on Bail Application of Detained Binance Executive
The Federal High Court in Abuja has set May 17 as the date for a ruling on the bail application filed by Tigran Gambaryan, a detained executive of Binance. The court fixed the date after arguments from both the Economic and Financial Crimes Commission (EFCC) and Gambaryan’s lawyer, Mark Mordi, SAN.
Gambaryan was remanded in Kuje Correctional Centre after pleading not guilty to money laundering charges brought against him by the EFCC. The charges allege that Binance Holdings Limited, Gambaryan, and another agent, Nadeem Anjarwalla, conspired to conceal the origin of financial proceeds from unlawful activities in Nigeria, including $35,400,000.
While Anjarwalla escaped custody and fled to Kenya, Gambaryan’s lawyer argued for his bail, stating that the EFCC had not provided credible evidence to oppose the application. However, the EFCC argued that Gambaryan was a flight risk and should not be granted bail.
The judge will make a decision on May 17, determining whether Gambaryan will be granted bail or remain in EFCC custody. Stay tuned for updates on this developing story.
