A Federal High Court, sitting in Abuja has remanded a Binance executive, identified as Tigran Gambaryan in Kuje correctional centre pending the determination of his bail application.
The trial judge, Justice Emeka Nwite gave the order after Tigran pleaded not guilty to the money laundering charges leveled against him by the Economic and Financial Crimes Commission on Monday.
Recall that the anti-graft agency had accused Binance, Tigran, and fleeing Nadeem Anjarwalla of concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity.
However, Binance Holdings Limited and Tigran’s arrangement were stalled on April 4 following an objection from his counsel, Mark Mordi, (SAN).
It was gathered that Mordi had insisted that his client could not be arraigned following the failure of the EFCC to perfect service on Binance Holdings Limited.
However, the counsel for the EFCC, E.E. Iheanacho, noted that the second defendant was a representative of Binance in the country, adding that the charge was severed on him on behalf of the company, but it was rejected.
Ruling on the matter, Justice Nwite said the service on Gambaryan on behalf of the company was proper.
He held that Section 478 of the Administration of Criminal Justice Act stipulates that service must be effected on a chief agent of a company within the jurisdiction.
He said: “Does the second defendant qualify as an agent of Binance?
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“From the above statement, the second defendant is the duly appointed representative of Binance. The second defendant is bound to receive a summons on behalf of Binance.
“The service of the second defendant on behalf of the first defendant is proper. The court should proceed with the arraignment of the defendants.”
The judge subsequently adjourned the matter till April 18 for the ruling on Gambaryan’s bail application and May 2 for commencement of trial.
