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  • HIGH COURT REJECTS BINANCE EXECUTIVE BAIL APPLICATION
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HIGH COURT REJECTS BINANCE EXECUTIVE BAIL APPLICATION

Admin October 12, 2024
Tigran Gambaryan, Binance Executive

A desperate attempt to secure the release of Tigran Gambaryan, Binance Executive from detention suffered a huge setback on Friday as the Federal High Court in Abuja, dismissed a fresh bail application filed by the detained Binance Holdings Limited’s executive.

According to the judge, Emeka Nwite, in his ruling, dismissed the application because it constituted an abuse of court process.

Mr. Nwite held that Gambaryan’s request could not be granted when he was still challenging the earlier bail ruling at the Court of Appeal.

The judge noted that the defendant failed to withdraw his pending appeal against the earlier ruling on his bail application before filing another motion, saying such an act amounted to an abuse of court process.

However, Binance Spokesperson in a statement expressed frustration over the court’s decision to trash the application on flimsy grounds.

“Following today’s court hearing in Abuja, we are deeply disappointed by the court’s decision to deny Tigran bail, particularly given his deteriorating health.

“He has been unlawfully detained for over 220 days.

“Tigran did not go to Nigeria as a decision-maker and there is no good reason to continue to hold him. We are committed to working with the Nigerian government to resolve issues, but Tigran must be allowed to go home”, the Binance Spokesperson reiterated.

Mr. Nwite further held that Mr. Gambaryan had not shown to the court that the Nigerian Correctional Service (NCoS) did not have adequate facilities or had failed to take care of his ill health.

“Therefore, the facts before the court have shown that the Nigerian Correctional Service has the capacity to treat the second defendant,” he said.

The judge, however, ordered the NCoS to refer Mr. Gambaryan to any standard hospital in Abuja for a period of two to three days.

He subsequently adjourned the matter until 18 October, 22 November and 25 November for continuation of trial.

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