The Federal High Court in Abuja has directed the detention of Binance executive Gambaryan, at the Kuje Correctional Centre following his plea of not guilty to money laundering charges filed against him by the Economic and Financial Crimes Commission (EFCC) on Monday.
Binance executive Gambaryan, serving as the company’s head of financial crime compliance, appeared before the court on Monday to address the charges brought against him by the EFCC. Despite his plea of innocence, he was ordered to remain in custody until the court resolves his bail application.
The EFCC leveled accusations of involvement in money laundering activities against Gambaryan, prompting the initiation of legal proceedings. However, the planned arraignment encountered obstacles on Thursday when the Federal Inland Revenue Service (FIRS) faced challenges in serving the charges to the defendants.
Moses Ideho, representing the FIRS, acknowledged the difficulties encountered in serving Gambaryan with the charges due to his custody under the EFCC, stressing the importance of serving the second defendant before proceeding with the arraignment process.
Responding to the circumstances, Justice Emeka Nwite postponed the case to determine whether the arraignment could proceed in the absence of proof of service. The court’s decision will bear significant implications for the legal proceedings against Gambaryan and Binance.
It is recalled that earlier, Gambaryan and his colleague were detained by the federal government after arriving in Nigeria in response to the country’s recent crackdown on various cryptocurrency trading platforms, leading to the seizure of their passports.
The court also granted the Economic and Financial Crimes Commission (EFCC) an order to detain them for an initial period of 14 days, which was subsequently extended by another 14 days due to Binance’s non-compliance with court orders, thereby adjourning the case until April 4, 2024.
According to reports, Anjarwalla, who is British, managed to escape from the Abuja guest house where he and his colleague were held on Friday. This occurred while guards on duty escorted him to a nearby mosque for prayers during the ongoing Ramadan fast. Anjarwalla is believed to have departed from Abuja using a Middle East airliner.
