A Federal High Court in Abuja has rejected the bail application of Tigran Gambaryan, an official of Binance Holdings Limited, who is facing charges of money laundering. The ruling, delivered by Justice Emeka Nwite, cited concerns about the possibility of Gambaryan fleeing if granted bail.
The decision to deny bail was influenced by the recent escape of Gambaryan's co-defendant, Nadeem Anjarwalla, the Binance Regional Manager for Africa, from custody. Justice Nwite concurred with the prosecuting lawyer, Ekele Iheanacho, that granting bail to Gambaryan could pose a risk, considering Anjarwalla's escape.
The court's ruling underscores the seriousness of the charges against Gambaryan and reflects the judiciary's commitment to ensuring that individuals facing such charges are brought to justice and do not evade legal proceedings.
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