Russian Government Sells 1,032 Confiscated Bitcoins

Bittime - The Russian government recently announced that it has begun selling some of the 1,032 Bitcoins (BTC) confiscated from Marat Tambiev, a former investigator who was convicted of accepting bribes. 

The Bitcoins were confiscated by Russian authorities in 2023, by order of the Nikulinsky District Court in Moscow. This action is part of an effort to crack down on corruption cases involving government officials.

In addition to the cryptocurrency, the Russian government also seized several real estate properties owned by Tambiev in Moscow as part of a separate legal procedure against him. This legal process shows the government's seriousness in eradicating corrupt practices and utilizing confiscated assets for recovery purposes.

Bribery Case Involving Tambiev

Tambiev's case began in April 2022, when he allegedly received Bitcoin from the hacking group Infraud Organization. In return, Tambiev is said to have not confiscated any assets belonging to the group, an action that clearly violated the law and his professional ethics as an investigator. 

Based on the available evidence, Tambiev was sentenced to 16 years in prison. This case was considered one of the largest corruption cases ever seen in Russia at the time of his arrest.

However, the liquidation of the confiscated Bitcoins did not go smoothly. Reports say that Russian officials tasked with selling these crypto assets are facing several legal obstacles. This happened because Tambiev divided the confiscated Bitcoin into several smaller parts. As a result, the authorities had to submit several court applications to obtain permission to sell all the confiscated Bitcoins. This process requires additional legal decisions so that Russian authorities can carry out full liquidation.

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Limited Bitcoin Sales

Despite legal challenges, Russian authorities have so far managed to obtain permission to sell around $10 million worth of Bitcoin. Prosecutors appear enthusiastic about selling more of the confiscated crypto assets, which is part of efforts to recover state losses caused by corruption.

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Follow-up Against Tambiev's Co-Suspect

Meanwhile, Russian media reported that one of Tambiev's associates, Kristina Lyakhovenko, had been sentenced to nine years in prison in a general penal colony. Lyakhovenko was involved in the same case and was sentenced for his role in bribery practices involving Tambiev. 

Meanwhile, another colleague, Dmitry Gubin, who reportedly evaded arrest, is now on the most wanted fugitives list by Russian law enforcement officials.

The Russian government's move to confiscate and sell Bitcoin obtained from the proceeds of these criminal acts shows its commitment to fighting corruption and ensuring that illegally obtained assets can be recovered for the benefit of the country. 

Although there are various challenges in the liquidation process, this is a strong signal that Russia will not tolerate criminal acts by public officials, and will make every effort to recover the losses incurred.

FAQ

1. What is the reason for the Russian government to sell confiscated Bitcoins?

The Russian government is selling confiscated Bitcoins as part of the process of recovering assets illegally obtained by officials involved in acts of corruption. These Bitcoins were confiscated from Marat Tambiev, a former investigator who was convicted of accepting bribes.

2. Why does the Bitcoin liquidation process face legal obstacles?

The Bitcoin liquidation process faced obstacles because Marat Tambiev divided the confiscated Bitcoin into several smaller parts. This made the Russian authorities have to apply for several court permits to be able to sell all the Bitcoin.

3. What punishment did Tambiev's comrades receive?

Kristina Lyakhovenko, one of Tambiev's associates, was sentenced to nine years in prison, while Dmitry Gubin, another associate, is now on the wanted list after evading arrest.

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Reference

News Bitcoin, Russia Begins Liquidating Seized Bitcoins From Bribery-Convicted Official, accessed January 11, 2025.

Author: MF