Alleged Money Laundering: Court orders Binance official to remain in detention throughout trial
The Federal High Court in Abuja, Federal Capital Territory (FCT) has ordered that a top official of Binance Holdings Limited Tigran Gambaryan to remain in detention throughout trial which bothers on money laundering.
Penpushing reports that the trial judge, Justice Emeka Nwite on Friday rejected a bail request by the accused whose co-defendant Nadeem Anjarwalla reportedly escaped from a pre-trial custody in Abuja in March.
The judge in his ruling declared that Gambaryan, poses a flight risk if granted bail in the money laundering charges filed against him and his cryptocurrency firm by the Nigerian government, stressing that the nature of the alleged offence and its severity must be weighed when determining Gambaryan’s bail application.
Penpushing further reports that the judge emphasized that he was of the view that the applicant will jump bail if bail is granted to him, and however, ordered an accelerated hearing of the case, and following the order the prosecuting agency, the Economic and Financial Crimes Commission (EFCC), opened its case, calling its first witness, a staff member of the Securities and Exchange Commission, to the witness box to testify.
Meanwhile, in view of the ruling the defendant will therefore remain in detention throughout his trial, except if the ruling is overturned on appeal.
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