Nigeria court rules Binance executive can face trial on behalf of crypto exchange
Tigran Gambaryan Justice Emeka Nwite of the Federal High Court Abuja, has refused to grant bail to an Executive of Binance Holdings Limited, Tigran Gambaryan. Justice Nwite held that Gambaryan is likely to jump bail if bail is granted to him. The company and its executive were arraigned on a five-count charge bordering on money laundering before Emeka Nwite, judge of a federal high court in Abuja. The defendants pleaded not guilty to the charge. Moving an application, Counsel to the Defendant, Mark Mordi, argued that the court had the power to grant bail to the defendant and impose conditions to ensure his presence in court. The Prosecution Counsel, Ekele Iheanacho, however opposed the bail application, stating that the defendant was a flight risk. He stated that the defendant attempted to obtain a new passport which he claimed was stolen, and this was a suspicious act given the proximity to his colleague’s escape from custody. He added that the court cannot risk granting him b