New Jersey Senator and Bitcoin skeptic Bob Menendez was found guilty on all 16 counts tied to his federal corruption trial on Tuesday that saw him accused of accepting bribes and working as a foreign agent.
Menendez Trial Ends, U.S. Senator Facing Lengthy Prison Sentence
The damning verdict was reportedly decided by the 12-panel jury and delivered just three days after closing arguments in the case wrapped up.
“I am deeply, deeply disappointed by the jury’s decision,” Menedez told reporters in a statement outside Manhattan federal courthouse shortly after learning his fate. “I have every faith that the law and the facts did not sustain that decision and that we will be successful upon appeal. I have never violated my public oath.”
However, such success could very well elude the now convicted Democratic politician, with less than 1% of federal criminal defendants acquitted in 2022.
Senator Robert Menendez of New Jersey has been convicted in connection with a sweeping scheme to sell his office to foreign powers and crooked businessmen in exchange for hundreds of thousands of dollars in cash, a luxury car and bars of solid gold. https://t.co/4Q0MxT76eA pic.twitter.com/z2a6vpzQxT
— The New York Times (@nytimes) July 16, 2024
The one-time Senate Foreign Foreign Relations Council head was hit with a litany of charges, including bribery, extortion, and obstruction of justice, in an indictment released by the U.S. prosecutors last fall.
He stood accused of accepting bribes from several individuals connected to foreign governments and was even discovered with gold bars and bags of cash stashed in his home.
Bob Menendez’s Anti-Bitcoin Commentary Unveiled
Several colleagues of the now disgraced U.S. lawmaker, who is currently seeking re-election as on the Independent Party ticket, have publicly urged him to step down in light of Tuesday’s news.
“This is a sad and somber day for New Jersey and our country. Our public servants should work for the people, and today we saw the people judge Senator Menendez as guilty and unfit to serve,” said Congressman Andy Kim (D-NJ). “I called on Senator Menendez to step down when these charges were first made public, and now that he has been found guilty, I believe the only course of action for him is to resign his seat immediately. The people of New Jersey deserve better.”
Menendez’s arrest may be seen as an ironic twist in crypto circles, given the fact that he once called Bitcoin “an ideal choice for criminals.”
“The Internet presents a formidable obstacle to law enforcement, with new bad actors constantly replacing those who have been apprehended,” the former Union City, New Jersey mayor said in a statement following the 2017 Equifax Bitcoin ransom scandal. “Nonetheless, we have a responsibility to do everything within our power to remain vigilant and prevent harm wherever possible.”
Menendez further introduced legislation entitled Accountability for Cryptocurrency in El Salvador Act in 2023 aimed at addressing consequences of the Central American country’s adoption of Bitcoin as legal tender.
Menendez is slated to be sentenced on October 29 and faces a whopping 222 years in prison.
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