Abuja, April 8, 2024 – Tigran Gambaryan, a Binance executive, has been remanded in Kuje Correctional Centre by a Federal High Court in Abuja. This decision came following Gambaryan’s plea of not guilty to money laundering charges brought against him by the Economic and Financial Crimes Commission (EFCC) on Monday.
Presiding over the case, Justice Emeka Nwite issued the remand order pending the determination of Gambaryan’s bail application. The judge also set dates for future proceedings, adjourning the matter until April 18 for the ruling on the bail application and May 2 for the commencement of the trial.
Gambaryan’s legal team is anticipated to vigorously pursue his bail application as the case progresses. The proceedings have attracted considerable attention due to Gambaryan’s association with Binance, a major player in the cryptocurrency industry.
This development underscores the ongoing regulatory scrutiny surrounding cryptocurrency-related activities, particularly concerning issues such as money laundering and financial fraud.
As Gambaryan awaits the court’s decision on his bail application, the legal process continues to unfold. Further updates on the case will follow as it progresses through the judicial system.
For now, Gambaryan remains in custody at Kuje Correctional Centre, awaiting the court’s ruling on his bail application on April 18.
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