A federal high court in Abuja has rejected the bail application of Tigran Gambaryan, an executive of Binance Holdings Limited, a cryptocurrency firm.
While ruling, Justice Emeka Nwite held that the bail application is refused as he has carefully gone through the application submitted before him and resolved that the defendant will jump bail if granted.
Osun Defender reports that the company and its executive were arraigned on a five-count charge bordering on money laundering before Emeka Nwite, judge of a federal high court in Abuja.
The defendants pleaded not guilty to the charge.
Speaking on the application, Counsel to the Defendant, Mark Mordi, argued that the court had the power to grant bail to the defendant and impose conditions to ensure his presence in court.
The Prosecution Counsel, Ekele Iheanacho, however opposed the bail application, stating that the defendant was a flight risk.
He stated that the defendant attempted to obtain a new passport which he claimed was stolen, and this was a suspicious act given the proximity to his colleague’s escape from custody.
He added that the court cannot risk granting him bail, especially since he is not attached to any community in Nigeria.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
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