Binance Holdings Limited stated its displeasure in the Friday, May 17, ruling of the court against its official, Tigran Gambaryan, being tried for alleged money laundering offences.
In a statement by its spokesperson, Binance said, it is deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.
Tigran Gambaryan’s bail plea was denied by an Abuja Federal High Court after he was charged with alleged money laundering.
In the ruling on Friday, Justice Emeka Nwite held that there was a likelihood that Gambaryan would jump bail.
Justice Nwite agreed with prosecuting lawyer, Ekele Iheanacho that, with the earlier escape of Gambaryan’s co-defendant, Nadeem Anjarwalla (the Binance Regional Manager for Africa) from custody, it would be unwise to grant bail to Gambaryan.
However, reacting to the judgment, Binance Spokesperson said: “We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.
“Tigran has been dedicated to public service and fighting crime for most of his life. These charges against him are completely meritless. He should be freed while discussions continue between Binance and Nigerian government officials.”