A FEDERAL High Court in Abuja rejected the fresh bail application by detained Binance Holdings executive, Tigran Gambaryan, on Friday, October 11.
The presiding judge, Emeka Nwite, turned down the request in his ruling on Friday, October 11.
Recall that Gambaryan’s lawyer, Mark Mordi, a senior advocate, on September 4, sought a six-week bail for his client to receive proper medical attention outside of prison, citing inadequate care in custody.
He stated that Gambaryan’s health was ‘perilous’ and that he needed surgery for a herniated disc along with psychiatric treatment for depression and anxiety.
According to him, the defendant’s health issues could not be properly managed in Nigeria.
However, the Economic and Financial Crimes Commission (EFCC) opposed Mordi’s request, stating that the defendant could receive treatment while held at Kuje Correctional Facility.
Ekele Iheanacho, the commission’s lawyer, argued that the health claims made by the Binance executive’s attorney did not indicate a condition serious enough to justify bail.
Iheanacho stressed that Gambaryan had been taken to leading medical facilities, including State House Clinic and Nizamiye Hospital, adding that a medical report from the State House Clinic showed he had refused medication and treatment.
Meanwhile, in his ruling on the motion for bail on medical grounds, Nwite denied the request, stating that ‘renowned Nigerian medical experts’ were already overseeing the health of the second defendant.
He also ruled that the Nigerian Correctional Service “refer Gambaryan to a standard hospital in Abuja for treatment for three days to two weeks under security supervision.”
The judge noted that the bail application constituted an abuse of the court process since Gambaryan was appealing the denial of his first bail.
“Therefore, the facts before the court have shown that the Nigerian Correctional Service has the capacity to treat the second defendant,” he said.
He subsequently adjourned the case to October 18, 2024, and again to November 22 and 25, 2024, for continuation of the trial.
The EFCC had charged Binance, Gambaryan, and Nadeem Anjarwalla with hiding the source of the $35,400,000 in revenue that Binance made in Nigeria while knowing that the money was the product of illegal activities.
The ICIR reported on Monday, March 25, that the Federal Government, through the FIRS, filed criminal charges against Binance at the Federal High Court in Abuja.
The charges accused Binance of a four-count tax evasion.
The FIRS stated that the action was intended to protect Nigeria’s economic integrity and maintain budgetary sustainability.
Binance pulled its services out of Nigeria on March 5 in response to the severe actions taken against it by the Nigerian government.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M