Bail Hearing for Binance Executive Tigran Gambaryan Delayed Once Again Amid Money Laundering Charges
Summary:
Binance executive Tigran Gambaryan's bail hearing was further postponed by a Federal High Court in Abuja, as reported by local news outlet Nairametrics. Gambaryan continues to be held at Kuje correctional facility, while his lawyer expressed frustration over his client's continued detention. Gambaryan and fellow executive Nadeem Anjarwalla have been charged with money laundering by the EFCC, while Gambaryan is also suing the Nigerian government for violating his basic human rights.
In a further delay, Tigran Gambaryan's bail application hearing was once again postponed by a Federal High Court in Abuja. Now set for April 22, the amendment from the original date of April 18 was reported by Nairametrics, a local news outlet. Gambaryan, a Binance executive, continues to be held at the Kuje correctional facility. During the court proceeding, the defense introduced an additional affidavit into the bail application on April 16, according to the Economic and Financial Crimes Commission (EFCC). Senior counsel E. Iheanacho emphasized that the new information presented by the defense would require extra time for an adequate response. Judge Emeka Nwite, in charge of the case, consented to the deferment. However, Gambaryan's attorney, Mark Mordi, expressed his dissatisfaction with the situation, stating that his client had been detained for over 14 days without a reaction from the prosecution to the newly added affidavit. Gambaryan, after pleading not guilty to accusations of money laundering by the EFCC, was kept in custody by the presiding judge. Along with Gambaryan and Nadeem Anjarwalla, the EFCC also implicated Binance in the alleged concealment of unlawful proceeds amounting to $35.4 million in Nigeria. Mordi, reacting to the defendants' charges, asked for his client to be granted bail under lenient conditions. Later, the court permitted the EFCC to detain the Binance executives for 14 days and mandated Binance to allow the government access to data and details about its Nigerian traders. Currently, Binance and its executives are faced with two separate legal battles, one for tax evasion by the Federal Inland Revenue Service (FIRS) and another by the EFCC for alleged money laundering and foreign exchange misdemeanours. Meanwhile, Gambaryan has launched a lawsuit against the government, alleging that his basic human rights were violated. Gambaryan argues that his detention and passport confiscation in Nigeria infringes on the country’s constitution, which guarantees personal liberty. On February 28, Gambaryan, a 39-year-old American, was arrested along with Nadeem Anjarwalla, a 37-year-old British-Kenyan, who avoided detention using a fraudulent passport. These arrests occurred after the federal government prohibited cryptocurrency channels in an attempt to suppress currency speculation.
Published At
4/19/2024 10:37:01 AM
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