In a recent development, the Federal High Court in Abuja has rejected a bail plea put forth by Tigran Gambaryan, an executive from Binance.
Justice Emeka Nwite, presiding over the case, cited concerns about Gambaryan potentially fleeing if granted bail, based on the evidence presented in affidavits. However, the judge has ordered an expedited trial process.
This decision comes after Gambaryan pleaded not guilty to money laundering charges brought by the EFCC, alongside Binance Holdings Limited and Nadeem Anjarwalla. Anjarwalla, another agent of the company, had previously escaped custody and fled to Kenya.
Gambaryan’s lawyer, Mark Mordi, had sought bail for his client, arguing the lack of substantial evidence from the EFCC. Conversely, the EFCC’s counsel, Ekele Iheanacho, raised concerns about Gambaryan’s flight risk, emphasizing his lack of ties to the Nigerian community and attempts to obtain a new US passport while in detention. Iheanacho urged the court to reject the bail application or return Gambaryan to EFCC custody if bail were to be granted.
