By Adedapo Adesanya
The Federal High Court in Abuja on Monday ordered the remand of a top executive of crypto company, Binance, Mr Tigran Gambrayan, in a prison in Abuja after postponing the hearing of his bail application for the next 10 days.
The judge, Justice Emeka Nwite, ordered Mr Gambaryan to be remanded in prison pending the hearing of his bail application, expected to come up on April 18.
Mr Nwite issued the remand order after the defendant’s arraignment on five counts of money laundering on Monday.
The judge, in issuing the order, agreed with the contention of the prosecution that the appropriate place of remand of a defendant after arraignment is the correctional centre.
The Economic and Financial Crimes Commission (EFCC) had, on March 28, charged Mr Gambaryan alongside Binance and another of the company’s top executives, Mr Nadeem Anjarwalla. However, following the latter’s escape, only Mr Gambaryan was available for arraignment before the trial judge on Monday.
The anti-graft body alleged in the charges that Mr Gambaryan’s colleague and co-defendant, Mr Anjarwalla, who reportedly escaped from lawful custody in Abuja last month, was on the run.
Mr Gambaryan pleaded not guilty to the five counts charged by the EFCC when read to him in open court on Monday.
The judge recorded a plea of not-guilty plea for Binance, based on the request by the prosecuting lawyer, Mr Ekele Iheanacho.
In the five counts, EFCC accused the three defendants of committing money laundering offences involving $35.4 million.
In February, both Binance executives flew into Nigeria to resolve the company’s issues with the Nigerian government, which included alleged sabotage of the Naira as the country sought to tackle the volatility of the Naira. Instead, the duo were arrested and placed in custody in the capital.
Last week, Binance asked the Nigerian government to release its detained official, saying he has no power to make decisions in the company. It also filed a human rights violation case in the Federal High Court, demanding their release, a public apology, and the return of their seized passports.
The wife of the detained Gambrayan also called for the release of her husband, weeks after an earlier plea by the spouses of both men.
