- As court rejects bail request
From Godwin Tsa, Abuja
The Abuja division of the Federal High Court sitting on Friday, rejected the bail application by a top official of Binance Holdings Limited, Tigran Gambaryan, who is currently in prison custody.
In his ruling, Justice Emeka Nwite said by the material facts before the court, he was not convinced that the defendant, if released on bail would be available for his trial.
Gambaryan is facing a five-count money laundering and terrorism financing charge alongside the company, Finance Holding Limited.
The Federal Government had arrested and detained him and his colleague, Nadeem Anjarwalla over alleged involvement of their firm in money laundering and terrorism financing.
However, Anjarwalla, who is the Africa Regional Manager of Binance, escaped from custody and fled to Kenya.
Regardless, both the EFCC and the Federal Inland Revenue Service, FIRS, slammed separate criminal charges against the duo and the company.
Whereas the anti-graft agency is prosecuting the company and Gambaryan for alleged financial malfeasance, the FIRS, in its own charge, accused the defendants of engaging in tax fraud.
Justice Nwite said he was convinced by the content of the affidavit evidence placed by the Economic and Financial Crimes Commission, EFCC, that there is the likelihood that the defendant may jump bail.
Consequently, it dismissed the defendant’s application to be granted bail, pending the determination of the case against him.
Rather, the court ordered accelerated hearing of the matter.
It was the position of the prosecuting agency that the court should allow the Binance official to remain in Kuje prison.
EFCC maintained that it got a reliable intelligence that plans were afoot for the defendant to escape from custody and flee the country like his colleague.
It told the court that the defendant had attempted to secure a brand new international passport from the embassy of the United States of America.
The commission further alleged that the defendant is an Armenian citizen by birth, saying there was a clear danger that he would jump bail if released from custody.
Gambaryan had in an application he filed on April 4 through his team lawyers led by Mr. Mark Mordi, SAN, relied on provisions of sections 157 and 162 of the Administration of Criminal Justice Act, 2015, to plead for bail.
He argued that the charge the EFCC preferred against him contained bailable offences, insisting that under the Constitution of Nigeria, 1999, as amended, he is presumed innocent of the allegations against him.
Mordi, SAN, argued that the prosecution failed to place any evidence before the court to establish that his client posed a flight risk.
“The prosecution has not presented any credible evidence to establish why the defendant should not be granted bail,” the defense lawyer submitted, adding that the claim that his client was planning to escape from the country was based “hearsay, unreliable and inadmissible evidence.”
However, while opposing the bail application, EFCC’s counsel, Mr. Ekele Iheanacho, drew attention of the court to the fact that defendant’s colleague escaped from lawful custody.
“There was an attempt by this defendant to procure another travelling document even when he was aware that his passport was in custody of the state. He pretended as if the said passport was stolen.