The recent legal battle surrounding Binance executive Tigran Gambaryan has taken a new turn as the Nigerian High Court in Abuja ordered his remand in prison. Despite pleading not guilty to money laundering charges, Gambaryan will remain in custody until his bail hearing on April 18. The trial is set to commence on May 2, and he will be held at the Kuje Correctional Center in the meantime.
Gambaryan’s arrest over six weeks ago, along with another Binance executive, Nadeem Anjarwalla, has created a stir in the cryptocurrency community. Anjarwalla, who escaped custody last month, is being tried in absentia. The charges against Gambaryan include five counts of money laundering, with his legal counsel arguing that he should not be held accountable for Binance’s actions due to his limited decision-making role within the exchange.
Judge Emeka Nwite dismissed Gambaryan’s defense, pointing to his prior representation of Binance in Nigeria. The judge also highlighted Gambaryan’s involvement in training Nigerian law enforcement agents on detecting crypto frauds. Despite Gambaryan and Anjarwalla’s presence in Nigeria since February as representatives of Binance, the judge deemed Gambaryan’s refusal to acknowledge the charges on the exchange’s behalf as unlawful. The judge also rejected the lawyer’s appeal to detain him under the prosecuting agency, the Economic and Financial Crimes Commission.
As the legal battle unfolds, Binance has refrained from commenting on the situation. Despite multiple requests for a statement from CryptoSlate, the cryptocurrency exchange has remained silent. The lack of response from Binance has raised questions about the company’s involvement in the case and its stance on the charges brought against Gambaryan.
The legal battle surrounding Binance executive Tigran Gambaryan continues to evolve, with his remand in prison adding a new dimension to the case. As the trial date approaches, the cryptocurrency community is closely watching the developments, eager to see how the situation unfolds and what impact it may have on the industry as a whole.