In a recent development, the Federal High Court in Abuja took the decision to remand Tigran Gambaryan, a high-ranking official of Binance Holdings Limited, in Kuje prison.
This action follows Gambaryan’s plea of not guilty to a money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Trial Justice Emeka Nwite presided over the proceedings, deciding that Gambaryan would remain in prison until April 18, pending the determination of his bail application. Additionally, May 2 has been set for the commencement of the substantive charge against him.
Gambaryan’s arrest is part of a larger crackdown by the Federal Government on alleged financial crimes involving Binance Holdings Limited. Alongside Gambaryan, his colleague Nadeem Anjarwalla, Africa Regional Manager of Binance, was also detained.
Anjarwalla, however, managed to escape custody and fled the country, prompting the government to seek his extradition for trial.
Despite Anjarwalla’s escape, both the EFCC and the Federal Inland Revenue Service (FIRS) have pursued legal action against Gambaryan, Anjarwalla, and Binance Holdings Limited.
While the EFCC focuses on money laundering charges, the FIRS has accused them of tax fraud.
The case highlights the government’s determination to address alleged financial wrongdoing, particularly concerning prominent international firms operating within Nigeria.
Stay tuned for further updates as the legal proceedings unfold.
