Senator Bob Menendez (D-N.J.), known for his criticism of Bitcoin BTC/USD as an “ideal choice for criminals,” has been found guilty of accepting bribes in gold, cash, and a luxury car during his corruption trial.
In a press release from the Department of Justice on Tuesday, Attorney Damian Williams stated,
“This case has always been about shocking levels of corruption. Hundreds of thousands of dollars in bribes, including gold, cash, and a Mercedes-Benz. This wasn’t politics as usual; this was politics for profit.”
According to Reuters, Menendez has pleaded not guilty and plans to appeal the verdict in a higher court.
The case involves allegations that Menendez and his wife, Nadine Menendez, accepted substantial bribes from wealthy businessmen in exchange for favors, such as diluting criminal investigations and protecting their business interests.
Senator Menendez, who chaired the U.S. Senate Committee on Foreign Relations, had previously expressed concerns about Bitcoin and cryptocurrencies, citing their potential use in ransomware and other cyberattacks. In 2017, he wrote to the Financial Crimes Enforcement Network, stating, “Because of the anonymous nature of Bitcoin transactions, the digital currency is an ideal choice for criminals.”
Menendez also co-sponsored legislation to address the risks associated with El Salvador’s adoption of Bitcoin, famously stating, “Bitcoin can open the doors of corruption in El Salvador.”
At the time of writing, Bitcoin is trading at $65,693.11, up 3.41% in the last 24 hours, according to Benzinga Pro.
