A federal high court in the Federal Capital Territory Abuja has refused to grant bail to Tigran Gambaryan, an executive of Binance Holdings Limited, a cryptocurrency firm.
Presiding judge, Emeka Nwite,, maintained that Gambaryan is likely to “jump bail if granted to him”.
The firm and its executive were arraigned on a five-count charge bordering on money laundering.
The defendants pleaded not guilty to the charge, which they claimed is ludicrous.
