May 17, (THEWILL) – A Federal High Court in Abuja has rejected the bail application filed by Tigran Gambaryan, Head of Binance Financial Crime Compliance Unit.
THEWILL reports that the Court had on April 8, ordered that Gambaryan be remanded in Kuje Correctional Centre, pending a ruling on his bail application following charges of alleged complicity in money laundering filed by the Economic and Financial Crimes Commission (EFCC).
Ruling on the bail application on Friday, Justice Emeka Nwite held that Gambaryan is likely to “jump bail if granted to him”.
Recall that Nadeem Anjarwalla, the cryptocurrency firm Regional Manager for Africa, had on March 22 escaped from the Abuja guest house where he and his colleague, Gambaryan, were detained.
Binance and its executives are facing a five-count charge bordering on money laundering. The defendants pleaded not guilty to the charge.
The Federal Government, through the Federal Inland Revenue Service (FIRS), had also filed a five-count charge against Binance and two of its executives, including Gambaryan and fleeing Nadeem Anjarwalla.
In the charge marked: FHC/ABJ/CR/115/2024, the Federal Government accused Binance of facilitating customer tax evasion, including non-payment of Value Added Tax (VAT), failure to file tax returns, non-payment of Company Income Tax (CIT), and complicity in aiding customers to evade taxes through its platform among others.
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