A Federal High Court in Abuja has ordered the remand of Binance Holdings executive, Tigran Gambaryan in Kuje Correctional Centre, Abuja. The decision was made pending the outcome of his bail application, as he faces allegations of money laundering by the Economic and Financial Crimes Commission (EFCC).
Justice Emeka Nwite issued the order after Gambaryan entered a plea of not guilty to the money laundering charges during his court appearance on Monday. The EFCC had brought forward the charges, which Gambaryan contested, leading to the court’s decision.
Gambaryan, along with the company Binance and another individual, Nadeem Anjarwalla, who is currently evading authorities, were arraigned before Justice Nwite on a five-count charge. Anjarwalla is reported to have fled Nigeria after escaping custody on March 22.
The EFCC’s accusation of money laundering, totaling $35,400,000, was filed against Binance, Gambaryan, and Anjarwalla in a five-count charge dated and submitted on March 28. The case continues as Gambaryan remains in custody awaiting further legal proceedings.