Crypto-Hating Senator Robert Menendez Charged with Bribery and Corruption

Crypto-Hating Senator Robert Menendez Charged with Bribery and Corruption

Senator Robert Menendez Charged

United States Senator and crypto critic Robert Menendez saw bribery charges brought against him on Friday. The lawmaker is accused of accepting significant cash and gold as bribes from three businessmen.

The lawsuit follows years of constant criticism from Menendez targeting the crypto industry. The Senator has been claiming that digital currencies enable several criminal activities as well as help foreigners evade United States sanctions.

In 2017, he told FinCEN via a letter that Bitcoin’s anonymous nature makes it an appealing option for criminals. Five years later, Menendez co-sponsored an Act that aimed to probe how El Salvador’s decision to adopt BTC as a legal tender posed risks to economic stability and cybersecurity. He was also one of the US politicians who expressed concerns over Facebook’s Libra stablecoin in 2019. At the time, he said the now-collapsed project was being used by money launderers.

The Lawsuit Against Menendez

Meanwhile, Friday’s lawsuit alleges that from early 2018 to mid-2022, the lawmaker and his wife, Nadine Menendez, accepted a series of bribes worth hundreds of thousands of dollars in exchange for his influence and power.

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Per the charges, Menendez used his power to enrich businessmen Fred Daibes, Wael Hana, and Jose Uribe. He is also accused of benefiting the Egyptian government by leaking sensitive United States government intelligence.

The lawsuit mentions an instance where the Senator made use of his influence to stop a criminal investigation against Uribe in New Jersey. By dismantling the probe, Menendez is said to have protected an Egyptian business monopoly that the government of Egypt granted to Wael Hana.

Menendez Denies Accusations

Menendez has since issued a statement denying the allegations. He says they are baseless and won’t distract him from serving his people. Nonetheless, the lawmaker is facing two charges, including conspiracy to commit honest service fraud along with conspiracy to commit bribery. If found guilty, he could serve a jail term of up to 20 years.

Per the lawsuit, the authorities approved a search at Menendez’s house in July 2022, where the officials allegedly found a portion of the bribery proceeds, including gold bars worth $100,000 and $500,000 in fiat money. Prosecutors want the court to allow them to seize the assets.

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Archie Lovell
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Archie Lovell

Archie Lovell, a premier voice in crypto journalism, skillfully demystifies the intricate world of digital currencies. With a keen analytical eye and compelling narratives, Archie's writings delve deep, offering clarity amidst the complexities of blockchain. His expertise and style make him a trusted guide in the crypto space.

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