PANews reported on May 17 that according to Channels, Judge Emeka Nwite of the Federal High Court in Abuja, Nigeria, refused to grant bail to Binance executive Tigran Gambaryan. Judge Nwite believed that if Gambaryan was granted bail, he would likely abandon bail and abscond.
The company and its executives were arraigned before Justice Emeka Nwite of the Federal High Court in Abuja on five counts bordering on money laundering, with the defendants pleading not guilty to the charges. Counsel for the defendant, Mark Mordi, filed an application arguing that the court had jurisdiction to grant bail to the defendant and impose conditions to ensure his attendance in court. However, prosecuting counsel, Ekele Iheanacho, opposed the bail application, saying the defendant was a flight risk. He said the defendant’s attempt to obtain a new passport, which he claimed was stolen, was suspicious considering the close time of his colleague’s jailbreak. Justice Nwite agreed with the prosecution’s evidence and held that the defendant would be a flight risk if granted bail.
