Justice Emeka Nwite of the Federal High Court, Abuja has ordered the remand of a Binance executive, Tigran Gambaryan, in Kuje Correctional Centre, pending the determination of his bail application.
Justice Nwite gave the order on Monday after Gambaryan said he was not guilty of the money laundering allegation made against him by the Economic and Financial Crimes Commission on Monday.
The court held that he should remain in prison till April 18, when his bail application will be decided.
He also said the hearing into the substantive case will begin on May 2.
The Federal Government had arrested and detained Gambaryan and his colleague, Nadeem Anjarwalla, for their alleged involvement in money laundering and terrorism financing.
Anjarwalla, who is the Africa Regional Manager of Binance, escaped from custody and fled the country.
This led the government to initiate the process to arrest and extradite him back for trial.
Despite the development, both the EFCC and the Federal Inland Revenue Service, FIRS, slammed separate criminal charges against the duo and the company.
Whereas the anti-graft agency is prosecuting the defendants over their alleged complicity in money laundering, the FIRS accused them of engaging in tax fraud.
