A platform labeled as a Ponzi scheme left over 500 investors with million-dollar losses, among whom was a prominent actress and host. The financier behind CoinX, Francisco Auque, was raided at his residence in Puerto Madero but was ultimately dismissed along with other accused parties after a mediation in which the victims recovered their investments with interest.
The case highlights the use of luxury goods for money laundering in economic crimes, including racehorses, artworks, and collectible cars, a practice associated with fraudulent schemes like CoinX. The relationship between Javier Milei and federal judge Ariel Lijo has raised suspicions in the judicial and political spheres, although Milei, despite being named in the criminal complaint, was never subjected to formal investigation by the judge.
Juan Pablo Chiesa, known for representing victims of cryptocurrency scams, emphasized the judicial omission in the CoinX case. The platform offered monthly returns in dollars and cryptocurrency operations until it failed to meet its commitments in March 2022. Leonardo Cositorto, linked to another scam, was recently convicted for defrauding 98 savers.
The appointment of Judge Lijo to the Supreme Court by the president has reignited the debate on judicial independence in Argentina. In an interview, Milei admitted to having received payment for his opinions, but despite the accusations, neither he nor other parties involved were charged. During two years of investigation, Judge Lijo and prosecutor González did not advance in thoroughly investigating the pyramid scheme, according to Chiesa.
