• Tuesday, December 24, 2024
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Judge’s absence stalls ruling on Binance executive’s bail application 

Court denies Binance executive Bail in $35m money laundering case

The ruling on the fresh bail application filed by Tigran Gambaryan, an executive of Binance Holdings Limited facing $35.4 million money laundering charges, was stalled on Wednesday due to the absence of Justice Emeka Nwite of the Federal High Court in Abuja. The Judge was attending a seminar at the National Judicial Institute (NJI), Abuja.

The matter has now been postponed to October 11, 2024.

At the last hearing on September 4, Mark Mordi, counsel to Gambaryan who is listed as the second defendant in the case preferred by the Economic and Financial Crimes Commission, prayed the court to grant the bail application to enable his client to receive adequate and quality medical attention.

“He is of no use to anybody if he dies” Mordi had told the Court.

The EFCC opposed the bail application, contending that Gambaryan’s health was not serious enough to justify bail and that he had refused treatment offered at premier medical facilities in the country.

Read also: Detained Binance executive refusing medical treatment, EFCC tells Court

Ekene Iheanacho, EFCC’s lead Counsel told the court that Gambaryan, held at the Kuje Correctional Facility, had been taken to top medical institutions, including the State House Clinic and Nizamiye Hospital. He added that a medical report from the State House Clinic indicated that Gambaryan had rejected medication and refused to cooperate with his treatment

He urged the court to dismiss his bail application, insisting that the defendant can be treated while in Kuje prison.

“It’s not sufficient to say because he is sick, he has to show compelling reason that he cannot be taken care of in the facility”, Iheanacho told the Court.

Justice Nwite, after hearing the argument adjourned the ruling on the bail application to October 9, 2024. The Judge also ordered the Correctional facility where Gambaryan is detained to ensure he has access to medical facilities and medical experts whenever the need arises.

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