Alejandro Cao de Benós, a Spanish man known for his involvement with North Korea, has been arrested in Madrid on charges of assisting the country in evading US sanctions through the use of cryptocurrencies.
This article explores the allegations against Cao de Benós, his background, and the potential implications of his actions.
Creating a “Paradise Society”
Alejandro Cao de Benós, a self-proclaimed advocate for North Korea, once expressed his desire to create a “paradise society” in the country. In his role as the president and founder of the Korean Friendship Association, he organized conferences worldwide to promote North Korean culture and history. However, his activities have come under scrutiny due to allegations of involvement in assisting North Korea with cryptocurrencies.
The Allegations
Court records state that Cao de Benós is accused of conspiring with Virgil Griffith, a US citizen and cryptocurrency expert, to provide cryptocurrency and blockchain technology services to North Korea in violation of US sanctions. The US indictment reveals that Cao de Benós recruited Griffith to assist North Korea and arranged his trip to Pyongyang for a blockchain and cryptocurrency conference.
Griffith’s Involvement
During the conference in Pyongyang, Griffith provided advice and instructions on how North Korea could use blockchain and cryptocurrencies to evade US sanctions. However, his actions didn’t go unnoticed, and in 2022, he was sentenced to 63 months in jail and fined $100,000 after pleading guilty to conspiracy to violate the International Emergency Economic Powers Act.
Cao de Benós’ Defense:
Cao de Benós vehemently denies the allegations against him. In an interview with Spanish news program Cuatro al Día, he stated that his role was limited to facilitating Griffith’s entry into North Korea and passing on his data to authorize the visit. Cao de Benós argues that political pressure and persecution are behind the charges, as they aim to hinder his friendship activities between North Korea and the rest of the world.
Potential Consequences
If convicted, Cao de Benós faces up to 20 years in prison. US authorities issued an arrest warrant for him in 2022, accusing him of attempting to conceal his activities and his role in the conspiracy. The severity of the charges reflects the seriousness with which evading sanctions is viewed by international authorities.
The case against Cao de Benós highlights the international efforts to prevent the evasion of sanctions through the use of cryptocurrencies. It serves as a reminder that individuals involved in facilitating such activities can face significant legal consequences. The outcome of this trial will not only impact Cao de Benós but also shed light on North Korea’s relationship with the international community and the measures taken to enforce sanctions.
Conclusion
The arrest of Alejandro Cao de Benós underscores the international community’s commitment to preventing the evasion of sanctions through cryptocurrencies. As the case develops, it will provide insights into the extent of Cao de Benós’ involvement and the potential impact of his actions on North Korea’s relationship with the rest of the world.
The outcome of this trial will serve as a reminder of the legal repercussions associated with assisting sanctioned countries in circumventing international regulations. It emphasizes the need for vigilance and cooperation among nations to ensure the effectiveness of sanctions and maintain global security.
#CryptoNews: A Spanish individual named Alejandro Cao de Benós has been arrested in Madrid under suspicion of providing instruction to North Koreans on the use of #cryptocurrencies to evade #US sanctions. 😮https://t.co/XtBrX7Oi5c
— CoinMarketCap (@CoinMarketCap) December 5, 2023
