Court Sends Binance Executive To Abuja Prison

A Binance executive, Tigran Gambaryan, has been remanded in Kuje Correctional Centre by a Federal High Court in Abuja, pending the determination of his bail application.

The presiding judge, Justice Emeka Nwite, issued the directive after Gambaryan pleaded innocence regarding the money laundering accusations levied against him by the Economic and Financial Crimes Commission on Monday.

The judge then postponed the proceedings until April 18 to deliberate on his bail request and scheduled the trial to begin on May 2.

The Economic and Financial Crimes Commission had arraigned Binance Holdings Limited, a cryptocurrency firm, and Tigran Gambaryan, the company’s head of financial crime compliance, over allegations of money laundering.

Naija News reports that the anti-graft agency arraigned the company and its executive on a five-count charge before Emeka Nwite, a federal high court judge in Abuja.

More details later…