The Economic and Financial Crimes Commission (EFCC) has requested the Federal High Court in Abuja to decline bail for Tigran Gambaryan, a detained executive of Binance Holdings Limited, on the grounds that he poses a significant flight risk. The EFCC’s argument is based on the recent escape of Gambaryan’s co-defendant, Nadeem Anjarwalla, who fled to Kenya, and the fact that Gambaryan is a foreign national, which makes it easier for him to flee the country.
During the court hearing, Prosecutor Emeka Iheanacho revealed that Gambaryan attempted to obtain a new passport while in custody, allegedly to facilitate his escape from Nigeria. According to the EFCC, Gambaryan, Anjarwalla, and Binance Holdings Limited are accused of money laundering and concealing the source of $35.4 million in revenue generated in Nigeria.
Gambaryan’s lawyer, Mark Mordi (SAN), argued that his client’s continued detention is “state-sanctioned hostage-taking” and that there is no evidence to suggest he is a flight risk. However, the EFCC maintains that releasing Gambaryan on bail would be a “grave risk” and has asked the court to remand him to their detention facility.
Justice Emeka Nwite has adjourned the ruling on the bail application until May 17, which means that Gambaryan will remain in custody until then. The case has attracted significant attention from both local and international media due to its high-profile nature, and many people are eagerly waiting for the outcome of the court hearing. The Economic and Financial Crimes Commission (EFCC) has urged the Federal High Court in Abuja to deny bail to Tigran Gambaryan, a detained executive of Binance Holdings Limited. The EFCC argues that Gambaryan, a foreign national, poses a significant flight risk, citing the recent escape of his co-defendant, Nadeem Anjarwalla, who fled to Kenya.
Prosecutor Emeka Iheanacho revealed that Gambaryan attempted to obtain a new passport while in custody, allegedly to facilitate his escape from Nigeria. The EFCC accuses Gambaryan, Anjarwalla, and Binance Holdings Limited of money laundering, concealing the source of $35.4 million in revenue generated in Nigeria.
Gambaryan’s lawyer, Mark Mordi (SAN), argued that his client’s continued detention is “state-sanctioned hostage-taking” and that there is no evidence to suggest he is a flight risk. The EFCC, however, maintains that releasing Gambaryan on bail would be a “grave risk” and has asked the court to remand him to their detention facility.
Justice Emeka Nwite has adjourned the ruling on the bail application until May 17.
