HomeNewsCourt Rejects Bail Revocation in Fintech Fraud Case, Issues Warning

Court Rejects Bail Revocation in Fintech Fraud Case, Issues Warning

Ethiopia _ Federal High Court  Addis Ababa
Federal High Court, Addis Ababa, Ethiopia

By Staff Writer 

(Nairobi, Kenya) — The Federal High Court in Addis Ababa has rejected a prosecutor’s petition seeking to revoke the bail of prominent artists and social media influencers accused of involvement in a major “Fintech” investment fraud scheme, issuing them a stern judicial warning instead.

The ruling, delivered on Friday, August 7, 2026, followed an urgent state petition asking the court to place the defendants in custody after they made public statements regarding their ongoing trial during a recent social media appearance.

In a morning session, defense attorneys submitted a formal written response alongside oral arguments explaining why the accused figures had commented publicly on the active court matter.

The defendants argued that their statements on the popular social media program “Igrenya” were made strictly to defend their personal reputations against widespread online harassment and defamation, rather than to subvert the legal process.

State prosecutors contended that discussing evidence and active proceedings on public platforms violates sub judice rules, directly interfering with judicial administration. The prosecution urged the court to cancel the defendants’ bail rights, place them in a correctional facility, and initiate criminal proceedings under Article 457 of the Criminal Code against both the artists and host journalist Teklehaimanot Adane.

Following an afternoon deliberation, the court ruled that while commenting publicly on an active case constitutes a procedural offense, it did not warrant revoking bail privileges.

“We do not find it appropriate to revoke bail rights for minor offenses,” the court declared in its ruling, emphasizing that the defendants should have pursued legal remedies against online defamation rather than turning to media outlets.

While refusing to place the defendants in custody or press additional criminal charges under Article 457, the court issued the following orders:

  • Formal Warning: The court gave the accused artists a severe judicial warning against issuing further public commentary or interviews regarding the ongoing trial.
  • Content Removal and Apology: The court ordered journalist Teklehaimanot Adane to immediately delete the interview video from the “Igrenya” YouTube channel and issue a formal public apology.

The court confirmed that regular trial proceedings for the core Fintech investment fraud case remain adjourned until October 12, 2026.

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