Binance exec remains in jail as bail appeal fails again
A Federal High Court in Abuja, Nigeria has again adjourned the bail application hearing of Binsen executive Tigran Gambarian while he is in custody at Kuje Correctional Centre.
Originally scheduled for April 18, the court rescheduled for April 22, local news agency Narametrics reported.
During the court session, the Economic and Financial Crimes Commission (FBC) informed the court that the Gambian's lawyer filed an additional affidavit in his bail application on April 16.
Senior counsel E. Iheanacho highlighted the new points raised by the defense which require time to respond appropriately to ensure justice.
The judge presiding over the case, Justice Emeka Nwite, agreed to adjourn the case. However, Gambian lawyer Mark Mordi emphasized that his client has been in federal government custody for more than 14 days.
He criticized the prosecution for not responding to the supplementary affidavit submitted with the bail application.
The trial judge remanded the Binance executive after he pleaded not guilty to the EFCC money laundering case. The agency accused Binance, Gammbaryan and Nadeem Anjarwalla of concealing the source of $35.4 million in illegal activities in Nigeria.
Following the court's acceptance of the EFCC's case against the defendants, Mordi asked the court for his client's bail on the grounds of negligence.
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The court allowed the EFCC to detain Binance executives for 14 days and ordered Binance to provide government data and details of Nigerian traders using the platform.
Binance and its executives are facing two separate charges: one from the Federal Inland Revenue Service (FIRS) related to tax fraud and the other from the EFCC for money laundering and foreign exchange violations.
But Gambarian is accusing the government of violating his basic human rights. Gambarian's petition said his detention in Nigeria and confiscation of his passport is against the country's constitution, which guarantees the right of individuals to personal liberty.
On February 28, Nigerian authorities arrested two of Binance's top executives – Anjarwala, a 37-year-old British-Kenyan who oversees operations in Africa; and 39-year-old American Gambarian – during their visit to Nigeria.
The arrests came after the federal government banned cryptocurrency channels as part of its campaign to curb currency speculation. However, Anjarwala escaped arrest using a fake passport.
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