In a recent development that has sent ripples through the cryptocurrency world, Tigran Gambaryan, an executive of Binance Holdings Limited, has been remanded to Kuje Correctional Centre. The decision came after Gambaryan’s arraignment at the Federal High Court in Abuja, where he faces allegations of money laundering.
Gambaryan, who holds the position of head of financial crime compliance at Binance, pleaded not guilty to the charges. Despite his plea, the court ordered his detention pending the determination of his bail application.
The Economic and Financial Crimes Commission (EFCC) has accused Gambaryan of involvement in illicit financial activities, prompting the legal proceedings against him. The case has encountered procedural delays, with the Federal Inland Revenue Service (FIRS) struggling to serve charges due to Gambaryan’s custody status.
Justice Emeka Nwite, presiding over the case, has set the date for the ruling on Gambaryan’s bail application for April 18, with the substantive hearing scheduled to commence on May 2.
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