Argentina drops fraud investigation into President Milei

Summarised from 2 outlets · Updated 24 Oct, 02:44 · Archive

An Argentinian judge has dropped a criminal investigation into President Javier Milei over a cryptocurrency scandal.

An Argentinian federal judge has dropped a criminal investigation into President Javier Milei and his sister Karina Milei over a cryptocurrency scandal. Judge Marcelo Martinez de Giorgi dismissed the case at the request of prosecutors, ruling that the reported events do not fall under a legal category and that no criminally relevant deception had been proven.

The investigation stemmed from Milei's February 2025 social media post about the $Libra token. He posted a link to buy the newly launched cryptocurrency, which caused its price to rise sharply. Within hours, Milei deleted the post and the coin's value collapsed, causing substantial losses to investors. Some opposition members of Congress had planned impeachment proceedings, while online critics accused Milei of a 'rug pull', where promoters draw in buyers before stopping trading and taking the money.

Milei denied acting fraudulently, insisting he had 'merely shared' information about the coin rather than promoting it, and that he had acted 'in good faith'. The judge concluded that whilst Milei's institutional standing could have given the launch greater impact, this did not translate into a fraudulent scheme. The judge also dismissed the investigation into US businessman Hayden Davis, who was involved as a 'launch adviser' for the token.

How it is being reported

• Argentinian judge drops fraud investigation into Milei over crypto scandalPresident Javier Milei’s role in cryptocurrency launch does not translate into a fraudulent scheme, judge says.Al Jazeera · 24 Oct, 02:21
• Argentina drops investigation into President Milei over crypto fraudJavier Milei had denied acting fraudulently when a cryptocurrency nosedived after he deleted a social media post about it.BBC World · 23 Oct, 21:59

In this story: Javier Milei · Karina Milei · Hayden Davis · Marcelo Martinez de Giorgi · Argentina

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