A Federal High Court sitting in Abuja on Friday, May 17, denied a Binance executive, Tigran Gambaryan bail.
Gambaryan’s bail plea was dismissed by Justice Emeka Nwite.
In his verdict, Justice Nwite stated that the bail application is denied because, after carefully reviewing the application, he concluded that, should bail be granted, the defendant will violate it.
The Economic and Financial Crimes Commission (EFCC) had filed charges against Gambaryan, his business Binance Holdings Limited, and another high-ranking executive who is presently fugitive, Nadeem Anjarwalla.
They were charged to court for money laundering and supporting terrorism.
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