Binance executive Tigran Gambaryan's bail application was denied by an Abuja Federal High Court judge, citing concerns about potential flight risk. The court ordered an accelerated trial process. Gambaryan faces money laundering charges alongside Binance Holdings Limited. Co-accused Nadeem Anjarwalla fled custody in March.
An Abuja Federal High Court dismissed a bail application filed by Tigran Gambaryan, a detained Binance executive. Justice Emeka Nwite, presiding over the case, expressed concerns that granting bail could lead to Gambaryan fleeing, based on the evidence presented.
The judge, however, ordered an accelerated hearing in the trial. Gambaryan, along with Binance Holdings Limited and another agent, Nadeem Anjarwalla, faces money laundering charges totaling $35,400,000. Anjarwalla, who fled to Kenya, has eluded custody.
Gambaryan's lawyer argued for bail, citing a lack of credible evidence from the EFCC, but the prosecution contended that Gambaryan posed a flight risk, especially as he allegedly attempted to obtain a new US passport while in custody.
The court sided with the prosecution, emphasizing the risk of granting bail to Gambaryan, who lacks strong ties to Nigeria. This decision underscores the gravity of the charges and the judicial commitment to ensuring a fair trial.
