Gambaryan, a prominent figure in the cryptocurrency industry, finds himself entangled in a legal battle as the Federal High Court in Abuja grapples with his bail application. The latest setback comes as the court postponed the hearing once again, pushing it to April 22.

The case has drawn attention not only due to Gambaryan’s status but also because of the allegations leveled against him by the Economic and Financial Crimes Commission (EFCC). The agency accuses Gambaryan, along with Binance and Nadeem Anjarwalla, of involvement in concealing the source of $35.4 million revenue in Nigeria, alleging it stems from unlawful activities.

Legal proceedings took an unexpected turn during the recent court session when Gambaryan’s lawyer, Mark Mordi, criticized the prosecution for its handling of the case. Mordi highlighted a significant oversight: the prosecution’s failure to respond to an additional affidavit submitted alongside Gambaryan’s bail application.

This oversight raises questions about the adherence to legal procedures and the pursuit of justice. Mordi emphasized the urgency of the matter, pointing out that Gambaryan has been held in federal custody for over 14 days without resolution.

Despite the defense’s plea for expedited proceedings, the judge, Justice Emeka Nwite, acceded to the prosecution’s request for more time to prepare a response. Senior counsel E. Iheanacho, representing the EFCC, cited the need for thorough consideration of the new points raised by the defense.

As the legal wrangling continues, Gambaryan’s fate hangs in the balance, with each delay prolonging his time behind bars. The case underscores the complexities and challenges inherent in navigating the legal system, particularly in high-profile matters involving allegations of financial misconduct.

The proceedings have attracted widespread attention, both within the cryptocurrency community and beyond, as stakeholders closely monitor developments. The outcome of Gambaryan’s bail appeal could have far-reaching implications, not only for him but also for the broader perception of accountability and transparency in the crypto industry.

Amid the legal proceedings, Gambaryan’s plea of not guilty to the money laundering charges stands firm, underscoring his assertion of innocence in the face of allegations leveled against him. However, the intricacies of the case and the weight of the accusations underscore the gravity of the situation.

Originally slated for April 18, the much-anticipated hearing has now been rescheduled for April 22, according to reports from local news agency Nairametrics. This latest twist in the tale comes as a blow to Gambaryan and his legal team, who had hoped for a resolution after weeks of legal wrangling.

During the recent court session, the Economic and Financial Crimes Commission (EFCC) informed the court that Gambaryan’s lawyer had submitted an additional affidavit to his bail application on April 16. This development, according to Senior Counsel E. Iheanacho, necessitated more time for a comprehensive response in the pursuit of justice.

The presiding judge, Justice Emeka Nwite, acceded to the request for postponement, much to the dismay of Gambaryan’s lawyer, Mark Mordi. Mordi pointedly criticized the prosecution for its failure to file a response to the additional affidavit, further prolonging his client’s time in federal government custody.

As the legal saga unfolds, observers await the next chapter in Gambaryan’s journey through the justice system, keenly aware of the implications for both him and the broader crypto landscape. The pursuit of justice, though often fraught with challenges, remains paramount as the courts navigate the complexities of this case.