Reasons Why Binance Executive Was Denied bail, To Remain In Kuje Prison
AFNEWS Reporter
May 20, 2024
Reasons Why Binance Executive Was Denied bail, To Remain In Kuje Prison
READ ALSO: JUST IN: Rockets Fired At Kabul Airport As US Troops Evacuates, White House Responds
An Abuja Federal High Court on Friday 17th May 2024, dismissed a bail application filed by the detained Binance executive, Tigran Gambaryan.
READ ALSO: DSS blows hot, warns against plans to cause violence in Oyo, others | READ DETAILS
Justice Emeka Nwite, in a ruling, held that based on the affidavit evidence before him, Gambaryan would jump bail if the application is granted.
READ ALSO: From Umuahia to the World: How BemsSoft's SMARTAIRS Redefined Public Revenue Collection in Abia
"I have carefully considered the affidavit evidence before me and I am of the view that the applicant will jump bail if granted bail,ÔÇØ Justice Nwite declared.
READ ALSO: If You Need Durable UK Used Laptops in Abia State, Read This Before Prices Change! | SEE PHOTOS
https://youtube.com/live/WswLCivv1Iw
However, the judge ordered for an accelerated hearing in the trial.
READ ALSO: How Nigerian Govt Shut Down Over 13 Million Social Media Accounts Across Major Platforms
The News Agency of Nigeria (NAN) reports that Justice Nwite had, on April 23, fixed Friday for the ruling after counsel for the EFCC, Ekele Iheanacho, and Gambaryan's lawyer, Mark Mordi, SAN, adopted their processes and argued their case against and for the bail plea.
READ ALSO: Inside Otti's Plan to Transform Aba Through the Aba Commercial Smart City Project
Justice Nwite had ordered the remand of Gambaryan in Kuje Correctional Centre after he pleaded not guilty to the money laundering charges preferred against him by the EFCC.
The EFCC had accused Binance Holdings Limited, Gambaryan and Nadeem Anjarwalla, another agent of the company, of allegedly conspiring amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria including $35,400, 000.
They were alleged to have committed an offence contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.
READ ALSO: JUST IN (ABIA): 140M Allegation Against ABHA, Ichita Heads To Court Against Oriaku |DOC. ATTACHED
However, Anjarwalla escaped from lawful custody on March 22 and fled Nigeria for Kenya.
READ ALSO: Declaring Bandits Terrorists Is Waste Of Time - Buba Galadima Proffers Solution
Mordi, on Gambaryan's behalf, had filed an application seeking an order of the court, releasing his client on bail pending the hearing and determination of the substantive case.
READ ALSO: "See Why I Charge More Than N4Million For S3xÔÇØ- Nollywood Actress, Reveals
Mordi, in the last adjourned date, had argued that the EFCC had failed to produce any credible evidence to oppose his application.
READ ALSO: JUST IN: Rockets Fired At Kabul Airport As US Troops Evacuates, White House Responds
https://youtube.com/live/WswLCivv1Iw
READ ALSO: DSS blows hot, warns against plans to cause violence in Oyo, others | READ DETAILS
According to him, the complainant's allegation that Gambaryan was arranging to escape from custody like his colleague was false.
READ ALSO: From Umuahia to the World: How BemsSoft's SMARTAIRS Redefined Public Revenue Collection in Abia
"There is no exhibit or document displaying EFCC's credible intelligence.
READ ALSO: If You Need Durable UK Used Laptops in Abia State, Read This Before Prices Change! | SEE PHOTOS
But the EFCC lawyer disagreed with Mordi.
Iheanacho argued that the court would be taking a grave risk by granting the Binance agent a bail because he had no attachment to any community in Nigeria or competent person to stand as his surety.
READ ALSO: How Nigerian Govt Shut Down Over 13 Million Social Media Accounts Across Major Platforms
He contended that Gambaryan attempted to apply for a new United States passport while in detention knowing fully well his International passport was seized by the Nigerian state.
READ ALSO: Inside Otti's Plan to Transform Aba Through the Aba Commercial Smart City Project
The lawyer said he was a flight risk and that if granted bail, he would jump bail like his colleague.
He disagreed with Mordi that the commission had not provided credible evidence that Gambaryan was planning to escape.
He said going by the deposition in their counter affidavit, the deponent was one of the investigative team that investigated the case.
READ ALSO: JUST IN (ABIA): 140M Allegation Against ABHA, Ichita Heads To Court Against Oriaku |DOC. ATTACHED
He urged the court to dismiss the bail application.
READ ALSO: Declaring Bandits Terrorists Is Waste Of Time - Buba Galadima Proffers Solution
In the alternative, he advised the court to return the applicant to EFCC custody if the judge decided to grant him bail.
READ ALSO: "See Why I Charge More Than N4Million For S3xÔÇØ- Nollywood Actress, Reveals
SOURCE: DAILY POST
Related Stories
If You Need Durable UK Used Laptops in Abia State, Read This Before Prices Change! | SEE PHOTOS
ABIA BUSINESS ROUNDTABLE: Opportunities, Partnership And Prosperity - Otti Reveals Abia's Economic Blueprint | WATCH VIDEO
ABIA BUSINESS ROUNDTABLE: 'Opposition Only Making Noise' - DreamSpring MicroFinance Institution CEO Nwobilor Speaks On How Otti's Policies Are Changing Abia's Business Climate | WATCH VIDEO
"Look Closely At Abia StateÔÇØ - Bourdex Sends Strong Signal To Global Investors At Abia Business Roundtable | WATCH VIDEO
From Umuahia to the World: How BemsSoft's SMARTAIRS Redefined Public Revenue Collection in Abia
Inside Otti's Plan to Transform Aba Through the Aba Commercial Smart City Project
""
— AFNEWS Reporter