A hacking group paid a record-breaking amount of cryptocurrency to an investigator in Moscow. A Russian newspaper reported that the corrupt official had accepted bitcoins worth millions of dollars and was saving the digital currency for his retirement.
The investigator is under investigation in Russia after receiving a large Bitcoin bribe
The Kommersant reported that investigators in Russia are currently working on a case of corruption involving one their former colleagues. The news is released as a Moscow court prepares to hear a case in which prosecutors want to seize his crypto stash.
Marat Tambiev, who was hired by the Moscow Tverskoy district in December 2011, climbed up the ladder of success to become the head of the Investigation Department. His salary was the only source of income for him and his family. They did not own any expensive properties or have savings in rubles or foreign currencies.
Investigators and prosecutors in the investigation launched against Tambiev, for large-scale corruption, found that he owned a total 1032.1 BTC, whose value, at the time, was estimated to be 1.662 billion Rubles (almost 24 million dollars).
The defendant received the cryptocurrency from Mark, Konstantin Bergmanov, and Kirill Samotyaevsky in April 2022 for failing to seize their assets. Tambiev led the investigation in their criminal case.
Russian authorities seize corrupt official's crypto currency savings
The crypto was found during a search in his apartment located in the Russian capital. Law enforcement officers discovered his laptop among other items. They were able penetrate it a few month later. In a folder named "Pension", there was a photo of a piece of paper containing records that allowed Marat Tabiev to gain access to two amounts of cryptocurrency — 932.1 BTC, and 100 BTC. The bitcoins were confiscated and moved to a hardware wallet as physical evidence.
According to the article, the 1.6 billion rubles worth of cryptocurrency represents a record amount in a corruption case that involves a Russian official. Dmitry Zakharchenko was the previous case, in which he collected bribes worth 1.4 billion Rubles.
The Russian parliament is currently reviewing several bills that include texts that criminalize the use of crypto assets to illicit ends.
Do you believe this is the biggest crypto-bribe that a Russian official has accepted? Please tell us what you think in the comment section below.
Frequently Asked Questions
What is a Precious Metal IRA (IRA)?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These rare metals are often called “precious” as they are very difficult to find and highly valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are sometimes called “bullion.” Bullion refers actually to the metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This will ensure that you receive annual dividends.
Precious metal IRAs have no paperwork or annual fees. Instead, you pay a small percentage tax on the gains. Plus, you can access your funds whenever you like.
What are the advantages of a IRA with a gold component?
There are many advantages to a gold IRA. It is an investment vehicle that can diversify your portfolio. You control how much money goes into each account and when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. This allows you to easily transition if your retirement is early.
The best part is that you don't need special skills to invest in gold IRAs. They are readily available at most banks and brokerages. You don't have to worry about penalties or fees when withdrawing money.
However, there are still some drawbacks. Gold is known for being volatile in the past. It's important to understand the reasons you're considering investing in gold. Are you looking for safety or growth? Is it for insurance purposes or a long-term strategy? Only once you know, that will you be able to make an informed decision.
If you want to keep your gold IRA open for life, you might consider purchasing more than one ounce. One ounce doesn't suffice to cover all your needs. You may need several ounces, depending on what you intend to do with your precious gold.
A small amount is sufficient if you plan to sell your gold. You can even get by with less than one ounce. However, you will not be able buy any other items with those funds.
Can I keep physical gold in an IRA?
Not only is gold paper currency, but it's also money. It's an asset that people have used for thousands of years as a store of value, a way to keep wealth safe from inflation and economic uncertainty. Investors use gold today as part of their diversified portfolio, because it tends to perform better in times of financial turmoil.
Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. Although owning gold does not guarantee that you will make money investing in it, there are many reasons to consider adding gold into your retirement portfolio.
One reason is that gold has historically performed better than other assets during periods of financial panic. Between August 2011 to early 2013, gold prices rose close to 100 percent while the S&P 500 fell 21 per cent. During turbulent market conditions gold was one of few assets that outperformed stock prices.
The best thing about gold investing is the fact that there's virtually no counterparty risk. Even if your stock portfolio is down, your shares are still yours. But if you own gold, its value will increase even if the company you invested in defaults on its debt.
Finally, gold offers liquidity. This means you can easily sell your gold any time, unlike other investments. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows you to profit from short-term fluctuations on the gold market.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
cftc.gov
bbb.org
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
investopedia.com
- Are You a Good Candidate for a Gold IRA
- What are the Options Types, Spreads and Example. Risk Metrics
How To
Three ways to invest in gold for retirement
It's crucial to understand where gold fits in your retirement strategy. You have many options for investing in gold if there is a 401K account at your workplace. You may also be interested in investing in gold beyond your workplace. A custodial account can be opened by a brokerage firm like Fidelity Investments if you already have an IRA. If precious metals aren't your thing, you may be interested in buying them from a dealer.
These are the rules for gold investing:
- Buy Gold With Your Cash – Do not use credit cards to purchase gold. Instead, invest in cash. This will protect you from inflation and help keep your purchasing power high.
- Physical Gold Coins: You should own physical gold coins, not just a certificate. It's easier to sell physical gold coins rather than certificates. Physical gold coins don't require storage fees.
- Diversify your Portfolio – Don't put all your eggs in one basket. By investing in multiple assets, you can spread your wealth. This can reduce market volatility and help you be more flexible.
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By: Lubomir Tassev
Title: Russian Investigator Took Over 1,000 BTC in Bribe Money From Hackers, Report
Sourced From: news.bitcoin.com/russian-investigator-took-over-1000-btc-in-bribe-money-from-hackers-report/
Published Date: Wed, 07 Jun 2023 08:30:13 +0000
