The Supreme Court docket of Justice is investigating a cryptocurrency bribery scheme wherein the names of congressmen Iván Identify and Andrés Calle have emerged.
In accordance with investigations, each would have acquired greater than 4,000 million pesos (near 1 million {dollars}) diverted from the funds of the Nationwide Unit for Catastrophe Threat Administration (UNGRD), meant to look after victims of pure emergencies.. These funds would have been illegally redirected to favor sure authorities reforms.
In latest statements, Sneyder Pinilla, deputy director of the UNGRD and presently detained, confessed that, to keep away from transporting money, which might seem suspicious, transformed round 1,000 million pesos in cryptocurrencies, to switch them instantly to different events concerned. In accordance with Pinilla, these funds would then be transformed again into money on the last vacation spot.
For the time being, the prosecution has already positioned these concernedprimarily relations of Identify and Calle. In accordance with the testimonies obtained, the cash was diverted to help the campaigns of María Clara Identify Ramírez, daughter of Iván Identify, and Gabriel Enrique Calle Aguas, brother of Andrés Calle, amongst others.
Why use cryptocurrencies?
In accordance with statements collected by the media, Pinilla selected to make use of cryptocurrencies as a substitute of money as a result of It was simpler to switch cash from Bogotá to Montería, capital of Córdoba.
“The cash was taken via cryptocurrencies from one sector to the opposite. I delivered 1,000 million pesos right here they usually delivered 1,000 million pesos to me in Montería (…) as a result of 1,000 million pesos can’t be taken on the aircraft to Montería, so we needed to discover a method to place them in Montería. And what was the easiest way? Via cryptocurrencies. As a result of? Since you ship right here and the following day they ship to the opposite place.”
Sneyder Pinilla, deputy director of the UNGRD
Money is often most well-liked by criminals as a result of it’s tough to hint, though it’s impractical to maneuver giant portions throughout territories.
Some media point out that the prosecutor’s workplace may very well be involved about using cryptocurrencies within the nation. This comes at a time when the federal government is evaluating Bitcoin regulation.
Pinilla didn’t specify which cryptocurrency was used. If Bitcoin or a stablecoin similar to USDT was used, cryptocurrencies which can be simply convertible on account of their market liquidity, Transactions may very well be absolutely traceable. By merely figuring out the tackle of the one that acquired the funds, you possibly can know their origin.
This isn’t to say that, if a financial institution switch was made, the prosecutor’s workplace might acquire private knowledge. That is assuming that the transfers had been constituted of one pockets to a different; if in some unspecified time in the future an alternate was used, monitoring the origin and vacation spot of the funds can be even simpler for the authorities.
