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Factbox – Peruvian presidents and years of political turmoil via Reuters

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© Reuters. Police officers stand in front of protesters after Congress approves the impeachment of President Pedro Castillo, in Lima, Peru December 7, 2022. REUTERS/Alessandro Cinque

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Written by Marco Aquino

LIMA (Reuters) – Peru, the world’s No. 2 producer and one of Latin America’s fastest-growing economies, has seen a series of presidents ousted from office or imprisoned over corruption allegations over the past three decades.

Peru’s Congress voted on Wednesday to impeach President Pedro Castillo in an impeachment trial, the third he has faced since taking power in July last year, and hours after he announced he would dissolve the legislature by decree.

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Here is a summary of the recent political turmoil in Peru.

Pedro Castillo (2021-2022)

A former teacher and farmer, Castillo garnered strong support in poor rural areas to win election to the Socialist Party, but his approval ratings fell rapidly and he faced continued opposition from a fragmented Congress and accusations of “moral incompetence”.

He survived two impeachment votes before he was finally voted out on December 7 in a dramatic day when he earlier tried to dissolve Congress, sparking allegations of an attempted coup.

Manuel Merino (November 10-15, 2020)

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A former president of Congress led impeachment proceedings against his predecessor, Martin Vizcarra, which lasted less than a week. He resigned after two people were killed during protests against his government, which led to a mass walkout from his government and widespread calls for his removal.

Representatives had said they would start impeachment proceedings if he did not resign.

Martin Vizcarra (2018-2020)

Lawmakers removed Vizcarra after media reports alleged he took 2.3 million soles ($640,000) in bribes from two companies that won a public works tender when he was provincial governor years ago.

Vizcarra, who has long clashed with lawmakers, vehemently denied the allegations, but was voted out of office after a second impeachment trial within several months found him “morally incapable” of ruling.

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Pedro Pablo Kuczynski (2016-2018)

Prosecutors investigated Kuczynski for favoring contracts with the Brazilian construction company Odebrecht while he was a minister under former President Alejandro Toledo.

Kuczynski initially denied any connection with Odebrecht, a company at the center of a political corruption investigation that has engulfed the entire region. But he eventually acknowledged that his consulting firm had advised the contractor on financing the project. Kuczynski resigned from the presidency in 2018 amid pressure from Congress.

Ollanta Humala (2011-2016)

Humala is facing trial over allegations that he received $3 million from Odebrecht during the 2011 presidential campaign.

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Prosecutors have asked for 20 years in prison. Humala denies the allegations.

Alan Garcia (1985-1990 and 2006-2011)

Former President Alan Garcia himself committed suicide in April 2019 with a shot to the head when Peruvian police arrived to arrest him over allegations that he had participated in another Odebrecht bribery scheme.

As a charismatic political leader who served two terms, Garcia has repeatedly denied allegations of bribery.

Alejandro Toledo (2001-2006)

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Toledo is accused of taking a $20 million bribe from Odebrecht during his tenure. He is released on bail in the US, but faces extradition proceedings to Peru.

The former president, who denied the allegations, spent nearly eight months in a California prison.

Alberto Fujimori (1990-2000)

Fujimori is serving a 25-year prison sentence for human rights abuses, including leading death squads that killed civilians in a counter-insurgency campaign during his government. He was later convicted of corruption in a major scandal.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.