CryptoMediaClub
Wednesday, July 9, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Colombia UNGRD Exec: I Used Crypto to Help Bribe Lawmakers

11.11.2024
A A
0
121
VIEWS
ShareShare

A man at the center of the ongoing Colombian UNGRD scandal says he used crypto to deliver around $1 million of bribes to leading lawmakers.

El Colombiano reported that Colombia’s Supreme Court has launched a probe into the pair – both former assembly leaders. They are accused of accepting bribes to “secure support for government reforms.”

New ‘Crypto Bribery’ Element to UNGRD Scandal

Prosecutors say former Senate President Iván Name and the former lower house leader Andrés Calle were paid with funds “diverted” from the National Unit for Disaster Risk Management (UNGRD).

The UNGRD is a disaster relief fund. It provides humanitarian aid to the victims of natural emergencies.

The headquarters of UNGRD, Colombia’s disaster relief fund.
The headquarters of UNGRD, Colombia’s disaster relief fund. (Source: Noticias RCN)

The case has been ongoing for much of the year. But this is the first time the former UNGRD executives at the center of the case say they used cryptoassets.

El Colombiano quoted Sneyder Pinilla, UNGRD’s former deputy director, as stating that he “converted” an intended bribe of “around 1 billion pesos” into cryptocurrency” to “avoid suspicion.” The media outlet quoted Pinilla as saying:

“The money was transported from one place to another using cryptocurrencies. I delivered 1,000 million pesos here. And they delivered 1,000 million pesos to me in Montería. […] Because you cannot take 1,000 million pesos on a plane to Montería.”

#Colombia Olmedo López y Sneyder Pinilla, procesados por el escándalo de corrupción en la Unidad Nacional de Gestión del Riesgo (UNGRD), no aceptaron el delito de contrato sin cumplimiento de requisitos legales que les imputó la Fiscalía. https://t.co/ru5z6zBEoZ

— Periódico LA NACIÓN (@PrensaLaNacion) November 8, 2024

Calle lives in Montería, a city in the Colombian north. The city is around 780km from the capital Bogotá. Pinilla allegedly continued:

“I had to find a way to get the money to Montería. And what was the best way? Via cryptocurrencies. Why? Because you [take money] to one place and the next day they deliver it to you in another place.”

‘You Can’t Take That Amount of Money onto a Plane’

Pinilla said he bought the crypto in mid-October last year and then “delivered the cash” to one of the lawmakers’ apartments “on October 14, 2023.”

The court has yet to appraise Pinilla’s comments. But media outlets have decried “corruption on a massive scale”

Pinilla says he gave Name some $667,000 and handed over around $222,000 to Calle at a time when they led the Senate and the lower house.

Pinilla and the former UNGRD director Olmedo Lopez claimed that the lawmakers responded by pledging their support for President Gustavo Petro’s 2024 budget proposal.

Prosecutors say that Name and Calle “apparently” intended to use the money to finance campaigns for upcoming elections.

Lawmakers Deny Allegations

Name and Calle have both denied taking money from UNGRD officials. Pinilla and Lopez, meanwhile, are facing trial on separate charges, after allegedly “receiving bribes from a government contractor.”

Pinilla claimed that he acted on orders from Lopez. Media outlets claim Name and Calle are now “expected to be summoned for questioning” in the days ahead.

Colombian consumer prices unexpectedly dropped for the first time in more than three years, bolstering President Gustavo Petro’s arguments for deeper interest rate cuts https://t.co/NgAPwCu57Y

— Bloomberg Markets (@markets) November 8, 2024

However, the case appears to have been complicated by talk of a plea deal between the prosecution and the former UNGRD executives.

Colombian media outlets say that such a deal could help Lopez and Pinilla receive reduced sentences.

Escándalo UNGRD: Fiscalía imputa sexto delito a Olmedo López y Sneyder Pinillahttps://t.co/QSXjkd4oOl

— IFMNOTICIAS (@ifmnoticias) November 7, 2024

Pinilla did not specify the type of crypto he allegedly used. Nor did he explain whether he used a well-known crypto exchange or an underground “brokerage” service.

The timing of the news could not be worse for the Colombian crypto community. Earlier this year, the government announced plans to regulate the nation’s fast-growing crypto industry.

In our next 2024 Geography of Crypto Report preview chapter, we look at crypto adoption in Latin America. Read to learn more about crypto markets in Brazil, Argentina, Venezuela & the Caribbean. Featuring insights from @circle @BTGPactual @AaronWStanley: https://t.co/sPVXseFsuf pic.twitter.com/g0w9M7cvqy

— Chainalysis (@chainalysis) October 9, 2024

Finance Minister Ricardo Bonilla, speaking at the World Economic Forum in January, said:

“There is much to talk about and plenty to regulate when it comes to cryptoassets.”

Colombia currently ranks fifth in crypto adoption in the LATAM region, per the blockchain analytics firm Chainalysis.

The post Colombia UNGRD Exec: I Used Crypto to Help Bribe Lawmakers appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security
All news

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

09.07.2025
0

Coinbase launched a $5 million bug bounty program on Cantina targeting its on-chain products and Base network smart contracts, marking...

Read moreDetails
Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

09.07.2025
[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

09.07.2025
Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

09.07.2025
Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

09.07.2025
Load More
Next Post
Bitget Wallet Launches $20M Fund to Boost Telegram Mini Apps Adoption

Bitget Wallet Launches $20M Fund to Boost Telegram Mini Apps Adoption

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Trump’s World Liberty Noticed Token Sale Surge with 230% Worth Hike Amid Large Demand

Trump’s World Liberty Noticed Token Sale Surge with 230% Worth Hike Amid Large Demand

6 months ago
Grayscale Unveils Avalanche (AVAX) Trust

Grayscale Unveils Avalanche (AVAX) Trust

11 months ago
Web3 Market Maker DWF Labs Launches Options Trading for Digital Assets

Web3 Market Maker DWF Labs Launches Options Trading for Digital Assets

9 months ago
Bitcoin ETFs could see significant growth in Hong Kong due to in-kind creation model – analysts

Bitcoin ETFs could see significant growth in Hong Kong due to in-kind creation model – analysts

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

Russian Embassy Demands US State Dept. Provide Updates on WEX CEO Dmitry Vasiliev

Stablecoin issuers’ $182 billion US Treasury hoard ranks 17th among countries, beating UAE and South Korea

Dogecoin Price Prediction: Millionaire Scottie Pippen Eyes DOGE in His Top Picks – Is This the Catalyst Meme Traders Needed?

Tether Invests in Blockchain Analytics Firm Crystal Intelligence to Tackle Stablecoin Misuse

Trending

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security
All news

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

09.07.2025
0

Coinbase launched a $5 million bug bounty program on Cantina targeting its on-chain products and Base network...

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

Truth Social Files for Blue-Chip Crypto ETF Including BTC, ETH, XRP, and SOL

09.07.2025
[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

[LIVE] Crypto News Today: Latest Updates for July 9, 2025 – Nasdaq-Listed GameSquare Announces $100M ETH Treasury Strategy

09.07.2025
Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

Shiba Inu Price Prediction: SHIB Launches Counter-Offensive Against Solana Rivals – New Meme Coin Trend Starting?

09.07.2025
Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

Survey finds gaps in mainstream Bitcoin coverage, leaving institutional investors exposed

09.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz