The court found a New Jersey senator, Bob Menendez, an extreme Bitcoin critic, guilty of all bribery scheme charges in a trial.
The event has sparked several reactions within the crypto community due to Menendez’s negative crypto stance. Many termed his corruption conviction as ironic after labeling Bitcoin as an “Ideal choice for criminals.”
Court Jury Convicts Senator Menendez of 16 Counts Bribery Scheme
On Tuesday, July 16, a jury convicted Senator Bob Menendez, a Democrat from New Jersey, over a bribery scheme. The senator was found guilty of 16 counts of charges, including bribery, honest services fraud, extortion, conspiracy, obstruction of justice, etc.
New Jersey Sen. Bob Menendez (D) was found guilty of bribery, acting as a foreign agent and a slew of other charges in his federal corruption case. https://t.co/Gbykao2n9i pic.twitter.com/vAM4rsUGsY
— The Hill (@thehill) July 16, 2024
Moreover, the court jury held some deliberation sessions on the case over three days before convicting Senator Menendez. Some charges alleged that the senator accepted bribes in gold bars, cash, and a Mercedes-Benz to aid foreign governments.
The prosecutor further stated that the senator abused his authority to protect some allies from criminal investigations. Menendez also used his position to enrich his wife, Nadine Menendez, and associates.
Moreover, the senator allegedly assisted Egypt to gain millions of dollars via US military aid dubiously. He met with Egyptian intelligence officials and compromised his position due to bribery while acting as a foreign agent.
Menendez displayed no emotion as the court read the verdict. He just placed his elbow on the table and rested his chin on his closed hands during the reading.
H promised to appeal the verdict while exiting the courtroom. Menendez stated;
“I have never violated my public oath. I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent.”
Meanwhile, Senator Menendez didn’t testify during the nine-week trial. He claimed the gold bars that the FBI discovered in his house in New Jersey were his wife’s assets.
The US authorities have charged Nadine Menendez, although she pleaded not guilty. Currently, they postponed her trial to enable her recovery from breast cancer surgery.
This criminal conviction may not prevent Senator Menendez from running for re-election. However, several Democrats have demanded his resignation. The court has slated the final judgment on October 29, which could sentence Menendez to decades in prison.
The crypto community has reacted to Senator Menendez’s conviction, describing it as ironic given his anti-crypto stance. Menendez once called Bitcoin an “ideal choice for criminals.”
So, many people pointed out the irony surrounding the crypto opponent who used corrupt practices to gather wealth. A prominent crypto user, Coach K Crypto, took to X to post about the senator’s conviction.
Senator Menendez said Bitcoin is ideal for criminals.
He was just convicted for taking bribes in gold and cash.
Can anyone spell ‘irony’?
— Coach K Crypto (@Coachkcrypto) July 17, 2024
He said, “He was just convicted for taking bribes in gold and cash. Can anyone spell ‘irony’?”
Also, Stacy Herbert, a member of El Salvador’s National Bitcoin Office (ONBTC), mentioned that Bob Menendez is a malign actor. She said that the senator owes President Bukele and the entire country an apology for criticizing their BTC engagement.
While Senator Bob Menendez was hiding bars of ill-gotten gold he had received as bribes, President Bukele was establishing the most transparent government in the world by posting El Salvador’s public bitcoin address for all the world to audit. pic.twitter.com/XKyw1FzfIT
— Stacy Herbert 🇸🇻🚀 (@stacyherbert) July 16, 2024
Meanwhile, Senate Majority Leader and Democrat Chuck Schumer demanded Menendez’s resignation following the jury’s decision. Schumer stated that Menendez should do the right thing for his constituents, the Senate, and the country by resigning.
In light of this guilty verdict, Senator Menendez must now do what is right for his constituents, the Senate, and our country, and resign.
— Chuck Schumer (@SenSchumer) July 16, 2024
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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