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Binance Fumes Over Refusal Of Nigerian Court To Grant Bail To Employee



Binance executive slumped

Cryptocurrency exchange giant, Binance, has condemned the refusal of the Federal High Court to grant bail to its employee, Tigran Gambaryan.

Reacting in a statement, Binance termed the decision unjustified and requested that the charges against Gambaryan be dropped. reported that Justice Emeka Nwite, delivering the ruling in Abuja on Friday, held that the bail application was refused as he had carefully reviewed the application and determined that Gambaryan would likely jump bail if granted.

The court ruled that Binance could be served with the Federal Inland Revenue Service tax evasion charge through Gambaryan.

Gambaryan’s lawyers objected, stating they needed to review the amended charge to advise him on taking his plea.

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The court agreed to adjourn the matter to May 22.

According to the statement, Binance asserted that Gambaryan, who had no decision-making power in the company, was innocent and had dedicated his life to public service and fighting crime.

“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,” Binance stated.

Source: Punch

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