A former Colombian disaster official admits using cryptocurrency to pay bribes, spurring a Supreme Court investigation.
Crypto Bribe Claims Spark Controversy
Sneyder Pinilla, former UNGRD deputy director, recently claimed he used cryptocurrency to bribe Colombian lawmakers, implicating prominent political figures in a scandal valued at around $1 million. Pinilla’s statements have drawn intense scrutiny, leading Colombia’s Supreme Court to investigate Senate leaders Iván Name and Andrés Calle.
Alleged Bribes Delivered in Cryptocurrency
Pinilla alleged that he converted 1 billion pesos ($250,000) into cryptocurrency to avoid detection. “The money was transported from one place to another using cryptocurrencies,” he stated, recounting how he obtained the amount in cash, delivered it to lawmakers’ residences, and later retrieved it in Montería, where Calle lives.
Lawmakers Under Supreme Court Investigation
The accusations against Name and Calle assert that they accepted nearly $667,000 and $222,000, respectively, during their tenures as leaders in the Senate and lower house. In exchange, the officials reportedly agreed to support President Gustavo Petro’s 2024 budget proposal. Both lawmakers deny the allegations, maintaining that no money exchanged hands with UNGRD officials.
Further Legal Troubles for Pinilla and Associates
Pinilla and former UNGRD head Olmedo Lopez are also under investigation for allegedly receiving bribes from a government contractor. Legal analysts suggest that Pinilla and Lopez may secure reduced sentences by entering plea deals, although the details remain undisclosed.
Media Calls Out Massive Corruption
Colombian media have described this unfolding scandal as “corruption on a massive scale.” With Pinilla’s confession, public attention has shifted to concerns over how the case could impact Colombia’s cryptocurrency industry. Regulators had been planning new cryptocurrency legislation, and this scandal may complicate those efforts by linking crypto use with political misconduct.
Unclear Crypto Trail Raises Regulatory Questions
Details remain scarce on the specific cryptocurrency used or if the transactions involved registered exchanges or underground services. This uncertainty highlights the risks tied to the anonymity of cryptocurrency in high-level bribery cases.
Future Implications for Colombia’s Crypto Sector
With this scandal, Colombia’s cryptocurrency landscape may face stricter regulations. The government’s intent to regulate crypto gains urgency as cases like Pinilla’s reveal potential misuses in political realms.
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