• Thursday, May 23, 2024
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Court remands Binance executive in Kuje prison

Court remands Binance executive in Kuje prison

The Federal High Court in Abuja has remanded Tigran Gambaryan, one of Binance’s executives, at Kuje Correctional Centre.

He was remanded after pleading not guilty to the money laundering charges levelled against him by the Economic and Financial Crimes Commission on Monday. He will remain in the centre until the court determines his bail application. The EFCC charged Gambaryan, the company’s head of financial crime compliance, over allegations of money laundering.

Read also: Binance: FIRS alleges EFCC hampered service of court charges

His scheduled arraignment failed on Thursday after the Federal Inland Revenue Service said it could not serve charges on the defendants.

Moses Ideho, counsel to the FIRS, acknowledged that the prosecutor had been unable to serve Gambaryan with the charges. He noted that serving the second defendant has been difficult because he has been in the custody of the EFCC.

Justice Emeka Nwite on Thursday adjourned the case to rule on whether arraignment would go on without proof of service or not. The company and its executive were arraigned on a five-count charge.