The Federal High Court in Abuja has dismissed the bail application filed by Tigran Gambaryan, an official of Binance Holdings Limited, who is currently being tried for alleged money laundering offenses.
In a ruling on Friday, Justice Emeka Nwite stated that there was a significant risk that Gambaryan would flee if granted bail.
Justice Nwite concurred with prosecuting lawyer Ekele Iheanacho, who argued against the bail application. Iheanacho highlighted the earlier escape of Gambaryan’s co-defendant, Nadeem Anjarwalla, the Binance Regional Manager for Africa, from custody as a key reason to deny bail.
Further details on the case will be provided as they become available.
