Bob Menendez, Former Senator Opposing Crypto, Sentenced to 11 Years in Prison for Bribery Charges
Disgraced former U.S. Senator Bob Menendez has been sentenced to 11 years in prison following his bribery conviction. Once a critic of cryptocurrencies, he faces severe penalties for his actions.
Staunch crypto skeptic and former U.S. Senator Bob Menendez was sentenced to 11 years in prison on Wednesday for bribery and for acting as an agent for Egypt, as reported by the Associated Press.
Menendez, a Democrat from New Jersey, notably criticized cryptocurrencies, labeling bitcoin as an “ideal choice for criminals.” He also opposed El Salvador’s adoption of bitcoin as legal tender.
District Judge Sidney H. Stein remarked during the sentencing, “You were successful, powerful, you stood at the apex of our political system. Somewhere along the way, and I don’t know when it was, you lost your way and working for the public good became working for your good.”
El Salvador’s President Nayib Bukele commented on the sentencing on social media, stating, “This senator was the great reference of the opposition when he accused El Salvador of using Bitcoin for money laundering and corruption. The thief judges by his condition.”
Menendez took kickbacks in gold and cash and misused his political influence to serve as an agent for another country. His conviction stemmed from charges levied against him last year.
