Court rejects Binance executive's bail plea -- second time in five months

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Court rejects Binance executive's bail plea -- second time in five months
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A federal high court in Abuja has refused to grant bail to Tigran Gambaryan, an executive of Binance Holdings Limited...

October 11, 2024 10:39 amA federal high court in Abuja has refused to grant bail to Tigran Gambaryan, an executive ofIn a ruling on Friday, Emeka Nwite, the presiding judge, held that the application constitutes an abuse of court process, considering that the defendant has entered an appeal against a previous court ruling on the same issue.

He held that the defendant had failed to show evidence that the Correctional Service facility could not attend to his medical needs or take him to a specialist for further medical attention.The judge ordered the prison authorities to take Gambaryan to a specialist hospital within Abuja under security supervision.In April, the Economic and Financial Crimes Commission arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering.

Gambaryan’s legal team and his family have raised the alarm that he could die in the Kuje prison if his health continues to deteriorate.

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