A Federal High Court sitting in Abuja has declined the bail application of a crypto currency firm executive, Tigran Gambaryan, citing the escape of the Binance Regional Manager for Africal, Nadeem Anjarwalla, as one of the reasons for rejecting the bail request.
Justice Emeka Nwite, while giving his ruling on the bail application, said he has carefully gone through the application submitted before him and resolved that the defendant will jump bail if granted.
In arriving at the decision, Justice Nwite agreed with prosecuting lawyer, Ekele Iheanacho that, given the earlier escape of Gambaryan’s co-defendant, Anjarwalla, it would be improper to grant bail to Gambaryan
Gambaryan, his company, Binance Holdings Limited and Nadeem Anjarwalla, who is on the run were charged by the Economic and Financial Crimes Commission(EFCC), with money laundering and terrorism financing .
The EFCC’s counsel, E. Iheanacho, had argued that the court would be taking a grave risk if it granted the Binance executive bail as the applicant has no attachment to any community in Nigeria or competent person to stand as his surety.
He had contended that Gambaryan attempted to apply for a new United States passport, having known that his International passport was seized by the Nigerian authority.
