COURT SEND BINANCE EXCECUTIVE TO PRISON AHEAD OF TRIAL IN MAY

By Olayiwola Ibrahim // The court ordered Tigran Gambaryan, head of financial compliance at Binance, to be remanded at the Kuje correctional centre in the capital, Abuja, on Monday, despite his counsel pleading that he remain in the custody of the anti-graft commission.

Gambaryan was charged alongside Binance, the world’s largest cryptocurrency exchange.

In his first appearance in court on April 4, he argued that he could not be served the company’s charges as his employer did not authorise him to receive them.

On Monday, Justice Emeka Nwite ruled that Gambaryan had earlier admitted to visiting Nigeria as a representative of Binance, which clearly shows his involvement with the company within Nigeria and so could be served in lieu of his employer.

The Economic and Financial Crimes Commission charged him with tax evasion, currency speculation, and money laundering of $34 million.