The detained top official of Binance Holdings Limited, Tigran Gambaryan, who is facing money laundering charge, on Tuesday, arrived the Federal High Court in Abuja on wheelchair.>>>CONTINUE FULL READING HERE....CONTINUE READING THE ARTICLE FROM THE SOURCE
Gambaryan was brought before the court from Kuje prison for the continuation of hearing on the five-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him and crypto currency firm.
Cladded in a black T-shirt with blue jeans trousers, the defendant stood up from the wheelchair and walked slowly into the dock when his case was called up.
It will be recalled that the Binance official had on May 23, collapsed in the court room.
His lawyer, Mr. Mark Mordi, SAN, told trial Justice Emeka Nwite that the defendant fell ill inside the prison, adding that his health had continued to deteriorate.
Following an application by counsel to the defendant, the trial judge, on July 5, ordered the Nigerian Correctional Service to release his medical certificate before July 16.
Mordi, SAN, had prayed the court to summon the medical doctor at the health facility of Kuje Correctional Centre, to explain why he allegedly refused to furnish him with his client’s medical report, despite an earlier order of the court.
The court had on May 17, declined to release the defendant on bail, pending the determination of the case against him.
Justice Nwite said he was not convinced that the defendant, who is facing money laundering and terrorism financing charge, would be available to face his trial once he is released on bail.
According to the court, the defendant failed to present sufficient materials to sway its discretion in his favour.
The court held that based on affidavit evidence that was adduced by the EFCC, there was the likelihood that the defendant would jump bail.>>>CONTINUE FULL READING HERE
It, however, ordered accelerated hearing of the matter. The EFCC had on April 23, urged the court to allow the Binance official to remain in Kuje prison.
The anti-graft agency maintained that it got a reliable intelligence that plans were afoot for the defendant to escape from custody and flee the country like his colleague.
It told the court that the defendant had attempted to secure a brand new international passport from the embassy of the United States of America.
EFCC further alleged that the defendant is an Armenian citizen by birth, saying there was a clear danger that he would jump bail if released from custody.
The defendant had in an application he filed on April 4, relied on provisions of sections 157 and 162 of the Administration of Criminal Justice Act, 2015, to plead for bail.
He contended that the charge the EFCC preferred against him contained bailable offences, insisting that under the Constitution of Nigeria, 1999, as amended, he is presumed innocent of the allegations against him.
His lawyer argued that the prosecution failed to place any evidence before the court to establish that his client posed a flight risk.
“The prosecution has not presented any credible evidence to establish why the defendant should not be granted bail,” the defense lawyer submitted, adding that the claim that his client was planning to escape from the country was based “hearsay, unreliable and inadmissible evidence.”
“My client is anxious and very desirous to prove his Innocence. This whole thing is that they want to use the defendant as a leavrage to obtain information from his employer. That is basically what this case is all about.
“This is purely a state sanctioned hostage taking,” the defence counsel added.
He, therefore, prayed the court to grant the defendant bail and stipulate conditions that would ensure his attendance to his trial.
While opposing the bail application, EFCC’s counsel, Mr. Iheanacho, drew attention of the court to the fact that the defendant’s colleague escaped from lawful custody.
“There was an attempt by this defendant to procure another travelling document even when he was aware that his passport was in custody of the state. He pretended as if the said passport was stolen.
“My lord, he made the move within the same period that his colleague escaped from custody and fled the country.
“If not that operatives of the Commission intercepted him, that act would have been completed.
“This court will be taking a grave risk to grant the defendant bail. This is also considering the fact that he has no attachment to any community in Nigeria.
“The fact that the passport of the defendant is with the complainant does not also guarantee that he will remain in Nigeria. He is not only an American citizen, he was born in Armenia and has its citizenship by birth.
“The experience we have had with the man who escaped to Kenya while his United Kingdom passport is in Nigeria will certainly repeat itself if this defendant is granted bail.
“Because of information we have received, we have even proposed that the defendant be returned to EFCC custody where he will be taken good care of, instead of the prison. It was an option we initially opposed.
“The 1st defendant (Binance) is operating virtually. The only thing we have to hold on to is this defendant. So, we pray my lord to refuse bail to the defendant,” the prosecution counsel added.
Gambaryan was arrested and detained alongside his colleague, Nadeem Anjarwalla, over alleged involvement of their firm in money laundering and terrorism financing.
Even though their international passports were seized, however, Anjarwalla, who is the Africa Regional Manager of Binance, escaped from custody and fled to Kenya, with the government initiating the process to arrest and extradite him back to the country for trial.
Despite the development, both the EFCC and the Federal Inland Revenue Service, FIRS, slammed separate criminal charges against the duo and the company.
Whereas the anti-graft agency is prosecuting the company and Gambaryan for alleged financial malfeasance, the FIRS, in its own charge, accused the defendants of engaging in tax fraud.
FIRS had since withdrawn the charge against Gambaryan and Anjarwalla, after the company appointed a Nigerian to stand as its representative.>>>CONTINUE FULL READING HERE
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