How much is one kilo of gold worth? Key takeaways from Bob Menendez bribery scandal explored 

New Jersey Democratic Senator Bob Menendez has landed himself in deep waters after he and his wife, Nadine Arslanian Menendez, were accused of bribery. As per USA Today, Bob Menendez and his wife were indicted and charged with corruption as they reportedly accepted bribes in the form of cash, gold, and a Mercedes-Benz.

As per a U.S. attorney in New York, the bribes were related to a “corrupt relationship with three New Jersey businessmen.” The prosecutors also named these businessmen as Wael Hana, Jose Uribe, and Fred Daibes. Allegedly, Bob Menendez also accepted home mortgage payments in the form of bribes.

The indictment stated that the investigators found around $500,000 in cash hidden in closets and $100,000 worth of gold bars, as per CNN. Furthermore, reports also stated that Nadine Menendez sold one kilo of gold to a jeweller in March 2022. As per GoldPrice, the current gold rate is about $62,000 for a kilo.

This is the second time that Bob Menendez has been charged with corruption, as he was previously held for the same in 2015, the trial for which went on for three years. Ultimately, in 2018, as the jury failed to reach a decision, the case ended in a mistrial.

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“Making false claims against me”: Controversy explored as Bob Menendez slams indictment

The controversy of Bob Menendez accepting bribes in the form of cash, gold, and more has become the talk of the town. Menendez, however, remained defiant in a statement that he released on the matter:

“For years, forces behind the scenes have repeatedly attempted to silence my voice and dig my political grave. Since this investigation was leaked nearly a year ago, there has been an active smear campaign of anonymous sources and innuendos to create an air of impropriety where none exists," the statement said.

Menendez also claimed that prosecutors have been making “false claims,” and attacking his wife for her “longstanding friendships.”

“They have misrepresented the normal work of a Congressional office. On top of that, not content with making false claims against me, they have attacked my wife for the longstanding friendships she had before she and I even met.”

Menendez's wife’s lawyer has also denied the accusations, claiming that she will “defend against these allegations in court.”

Prosecutors have claimed that Bob used his powers as a US Senator to help three businessmen benefit professionally and also to pressure the Department of Agriculture so that one among the said business associates could protect their business monopoly based in Egypt.

As per reports, the senator and his wife also made recurrent trips to Egypt. Moreover, prosecutors also alleged that the Senator used his powers to influence an ongoing federal prosecution of [businessman] Daibes, as per Reuters. CNBC also reported that the indictment alleged that the senator "provided sensitive U.S. Government information and took other steps that secretly aided the government of Egypt.”

While the three businessmen who are accused of bribing Bob have not spoken up on the matter yet, all five accused, including Wael Hana, Jose Uribe and Fred Daibes, along with Menendez and his wife are to appear in Manhattan’s federal court on Wednesday, September 27, 2023.