Binance Executive Denied Bail in Money Laundering Case by Federal High Court Abuja

The Federal High Court in Abuja has refused the bail application of Tigran Gambaryan, an executive at Binance Holdings Limited, in a significant money laundering and terrorism financing case brought against him by the Economic and Financial Crimes Commission (EFCC). Justice Emeka Nwite delivered the ruling, asserting that the defendant poses a flight risk if granted bail, after carefully reviewing the application put forth before the court.

Gambaryan, along with his company Binance Holdings Limited and another top executive, Nadeem Anjarwalla who is currently at large, were charged by the EFCC with alleged money laundering and terrorism financing activities.

Despite arguments from Gambaryan’s lawyer seeking bail, the court ruled against his release, citing concerns that he may evade trial if granted bail.