Justice Emeka Nwite of the Federal High Court in Abuja has declined to grant bail to an executive of Binance Holdings Limited, Tigran Gambaryan, on the ground of high risk of flight.<\/p>\n
Gambaryan and Binance were arraigned on a five-count charge bordering on money laundering. Both pleaded not guilty.<\/p>\n
During the bail application, Defense Counsel, Mark Mordi argued for the court\u2019s power to grant bail with conditions to ensure Gambaryan\u2019s court attendance.<\/p>\n
However, the Prosecution Counsel, Ekele Iheanacho opposed the application, labeling Gambaryan a flight risk.<\/p>\n
Iheanacho stated, \u201cThe defendant attempted to obtain a new passport, claiming his old one was stolen, which is suspicious given the recent escape of his colleague.\u201d<\/p>\n
He highlighted Gambaryan\u2019s dual citizenship in the United States and Armenia, emphasising that he lacked ties to any community in Nigeria.<\/p>\n
\u201cThe fact that the passport of the defendant is with the complainant does not guarantee that he will remain in Nigeria,\u201d Iheanacho remarked.<\/p>\n
Justice Nwite, considering the nature and severity of the offense, sided with the prosecution, ruling that, \u201cThe applicant will jump bail if bail is
\ngranted to him,\u201d and ordered Gambaryan\u2019s remand in the custody of the Economic and Financial Crimes Commission (EFCC), in ensuring his safety and preventing potential flight.<\/p>\n
Following the ruling, the trial was scheduled for accelerated hearing, with the EFCC calling its first witness who is a staff from the Securities and Exchange Commission (SEC).<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Justice Emeka Nwite of the Federal High Court in Abuja has declined to grant bail to an executive of Binance Holdings Limited, Tigran Gambaryan, on the ground of high risk of flight. Gambaryan and Binance were arraigned on a five-count charge bordering on money laundering. Both pleaded not guilty. During the bail application, Defense Counsel, […]<\/p>\n","protected":false},"author":16,"featured_media":31727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,181],"tags":[392],"class_list":["post-31723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports","category-crime","tag-binance"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/31723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=31723"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/31723\/revisions"}],"predecessor-version":[{"id":31730,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/31723\/revisions\/31730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/31727"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=31723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=31723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=31723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}