A representative for the family of detained Binance CEO Tigran Gambaryan claimed on Friday that the Nigerian court rejected the executive’s bail plea due to the possibility that he would be able to evade custody.
The money laundering, tax evasion, and bail hearings for Binance and its executives, including the exchanges’ jailed Head of Compliance Tigran Gambaryan, took place on Friday in Nigeria. The court decided that Binance could be served with a tax evasion complaint by the Federal Inland Revenue Service via Gambaryan.
The application was rejected by Tigran’s attorneys, who said they had to examine the new charge in order to counsel Gambaryan on entering a plea. In order to give the defendant time to be officially charged during their arraignment on May 22, the court decided to postpone the case. The 40-year-old Gambaryan was arrested in Nigeria in February together with Nadeem Anjarwalla, the regional manager for Africa for the British-Kenyan company. Since then, Anjarwalla has escaped. Tigran Gambaryan’s wife, Yuki, stated, “I truly cannot believe that my innocent husband is now – on his 40th birthday – having to face a trial for charges that he has nothing to do with.”
“Everyone is watching what he is going through, and all I can do is hope that justice and common sense will win out and Tigran will be able to return home to us.”
The executives of the exchange were accused of money laundering and tax evasion a month after their apprehension in the nation. Later, Gambaryan was transferred to Kuje Prison, whose inmates include terrorists affiliated with Boko Haram. The first prosecution witness in the Nigerian Economic and Financial Crime Commission (EFCC) money laundering trial was Abdulkadir Abbas of the Nigerian Securities and Exchange Commission, called by a Nigerian prosecutor on Friday.
The first prosecution witness in the Nigerian Economic and Financial Crime Commission (EFCC) money laundering trial was Abdulkadir Abbas of the Nigerian Securities and Exchange Commission, called by a Nigerian prosecutor on Friday.
Tigran’s attorneys requested a stand down, or brief suspension of proceedings, after the prosecution had completed questioning their first witness in order to obtain certified copies of specific documents from the proof of evidence that they intended to utilise during the witness’s cross-examination. The trial was postponed by the court until May 23 at midday.
“We find it extremely disappointing that Tigran Gambaryan, who is not a decision-maker inside the organisation, is still being held in custody. For the most of his life, Tigran has been committed to battling crime and serving the people. He has nothing at all to gain from these accusations. While negotiations between Binance and Nigerian government representatives are ongoing, he ought to be released, according to a Binance spokesperson. In a recent blog post, Richard Teng, CEO of Binance, urged the Nigerian authorities to free Gambaryan.