Justice Emeka Nwite of the Federal High Court, Abuja, on Friday 17, May 2024, threw out a bail application filed by Tigran Gambaryan, Binance executive and second defendant in an alleged tax evasion, currency speculation and money laundering case to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).
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| Economic and Financial Crimes Commission (EFCC) |
Ruling on the bail application filed on April 8, 2024 by defence counsel, Mark Mordi (SAN), the judge held that the defendant had no respect for the Constitution of the Federal Republic of Nigeria, adding that shortly after his arraignment on April 8, 2024, he hatched a plot to escape from lawful custody in similar fashion his partner and first defendant, Nadeem Anjarwalla escaped.
The judge further noted that both defendants shared the same space in detention before the escape of the first defendant and that some of his co-conspirators are in the United Kingdom as fugitives of the law.
“The application is thereby refused,” the judge said.
Continuing with the business of the day on Friday, prosecution counsel, Ekele Iheanacho got the permission of the court to present the First Prosecution Witness (PW1), Abdulqadir Abbas, director of operations with Securities and Exchange Commission, SEC, to commence the examination-in-chief.
Led in evidence by Iheanacho, the witness disclosed that he met the first defendant for the first time in a meeting at the office of the National Security Adviser (NSA).
“I met him once at the office of the National Security Adviser. It was a meeting convened by NSA to discuss the operations of the first defendant in Nigeria as it affects financial operations,” he said.
The judge adjourned the matter till May 23, 2024 for cross-examination of the witness.
The EFCC is prosecuting the first and second defendants on a five-count charge, bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).
