Key Takeaways:
- Binance executive Tigran Gambaryan’s bail hearing has been postponed again to April 22, as he remains in custody at Kuje correctional facility in Abuja on charges of money laundering.
- The delay was requested by the EFCC to address new arguments from Gambaryan’s defense; meanwhile, the court has extended the EFCC’s authority to detain him and other Binance executives for 14 days.
- Gambaryan is also suing the Nigerian government, alleging violations of his fundamental human rights, following the Nigerian government’s ban on cryptocurrency operations.
In a recent development at the Federal High Court in Abuja, the bail application hearing for Binance executive Tigran Gambaryan was postponed once more, leaving him in custody at the Kuje correctional facility.
Originally scheduled for April 18, the hearing has now been moved to April 22, as reported by Nairametrics.
BAIL APPLICATION HEARING FOR BINANCE EXECUTIVE TIGRAN GAMBARYAN POSTPONED AGAIN: WHAT WE KNOW
— BSCN (@BSCNews) April 19, 2024
– The Federal High Court in Abuja has once more postponed the bail application hearing for Binance executive Tigran Gambaryan, currently held at the Kuje correctional center.
Here's… https://t.co/CzXEff7aQS pic.twitter.com/QcqtL4KhCs
The hearing’s delay follows an earlier adjournment to the same date, during which the Economic and Financial Crimes Commission (EFCC) requested additional time.
The EFCC was responding to new arguments presented in an affidavit by Gambaryan’s defense on April 16.
Senior counsel E. Iheanacho acknowledged the need for time to adequately address these new points to ensure justice is served.
$34.4Million Money Laundering: Bail Hearing Of Binance Executive Stalled By Defence Counsel’s Application | Sahara Reporters https://t.co/z37edAAaKO pic.twitter.com/BpIesoaDak
— Sahara Reporters (@SaharaReporters) April 19, 2024
Justice Emeka Nwite, presiding over the case, concurred with the need for a delay.
However, Gambaryan’s lawyer, Mark Mordi, expressed frustration, noting his client has been detained by the federal government for over two weeks without a response to the latest affidavit in his bail application.
Tigran Gambaryan, who has pleaded not guilty to charges of money laundering, remains in custody following the court’s decision.
The bail application case filed by a Binance executive, Tigran Gambaryan has been stalled at the Federal High Court in Abuja as he remains in the custody of the Kuje Correctional Centre. pic.twitter.com/ujgmGkAloh
— TVC News (@tvcnewsng) April 19, 2024
The EFCC has charged him, along with Binance and Nadeem Anjarwalla, with hiding $35.4 million, alleged to be proceeds from illegal activities in Nigeria.
The court has allowed the EFCC to detain the Binance executives for 14 days and has mandated Binance to provide the Nigerian government with data on local traders on its platform.
These legal challenges are part of broader accusations against Binance and its executives, including tax evasion and foreign exchange violations.
BINANCE: Gambaryan to remain in prison as bail application stalls at Abuja court – https://t.co/XRMJnI4Wgf pic.twitter.com/yxB4eK4P5x
— Nairametrics (@Nairametrics) April 18, 2024
Amidst these legal battles, Gambaryan is also pursuing a lawsuit against the Nigerian government, claiming violations of his fundamental human rights.
He argues that his continued detention and the confiscation of his passport are contrary to Nigeria’s constitution, which upholds the right to personal liberty.
The scenario has escalated since the February 28 arrest of Gambaryan and Nadeem Anjarwalla, a British-Kenyan Binance executive.
#Binance executives' money laundering charges 🔎
— Bitcoin.com News (@BTCTN) April 13, 2024
Tigran Gambaryan has pleaded not guilty but was ordered to remain in custody as the judge dismissed his defense. The court's decision to transfer Gambaryan to Kuje Prison pending a bail hearing has sparked outrage from Binance. pic.twitter.com/0xUtPJsAyy
The arrests occurred during their visit to Nigeria, following a government ban on cryptocurrency operations aimed at curbing currency speculation.
Anjarwalla reportedly escaped detention using a falsified passport.
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