Colombia’s Former UNGRD Deputy Director Alleges Using Cryptocurrency for Bribes

Allegations of Cryptocurrency Bribery in Colombian Politics

Former UNGRD Official Claims to Have Used Cryptocurrency for Bribes

A scandal has emerged in Colombia involving Sneyder Pinilla, the ex-deputy director of the National Unit for Disaster Risk Management (UNGRD), who has revealed using cryptocurrency to facilitate approximately $1 million in bribes to influential lawmakers. This revelation has sparked an investigation by Colombia’s Supreme Court into former legislative leaders Iván Name and Andrés Calle, accused of receiving these illicit payments to support government reforms.

Evading Detection Through Cryptocurrency Transactions

Pinilla disclosed that he converted a bribe of about 1 billion pesos into cryptocurrency to avoid detection. He explained the elaborate process of transporting money using cryptocurrencies to deliver funds to the lawmakers discreetly.

Denials and Potential Plea Deals

Both Name and Calle deny the allegations, claiming they did not accept any money from UNGRD officials. Meanwhile, Pinilla and former UNGRD director Olmedo Lopez are facing charges related to receiving bribes from a government contractor. Reports suggest the possibility of a plea deal for Lopez and Pinilla, leading to potentially reduced sentences.

Implications for Colombia’s Political and Cryptocurrency Landscape

Corruption Accusations Rock Colombian Politics

The scandal surrounding the bribery allegations highlights concerns of widespread corruption in Colombian politics, casting a shadow over the integrity of the political system.

Challenges for Cryptocurrency Regulation in Colombia

The use of cryptocurrency in bribery schemes raises questions about the regulation of the crypto industry in Colombia. The government’s efforts to regulate the sector may face obstacles in light of these revelations.

Unveiling the Cryptocurrency Mystery

Details on Cryptocurrency Usage Remain Unclear

Pinilla did not disclose the specific type of cryptocurrency used or whether he engaged with a legal exchange or an underground service, leaving the details of the cryptocurrency transactions shrouded in mystery.