The lawyers of Argentina, led by Milei's political opponent Claudio Lozano, filed more than 100 fraud complaints against the president. An Argentine judge opened an investigation regarding this.
Following the trend of echoing the scandal, the prestigious London weekly The Economist also published an article this Monday titled "Javier Milei's crypto misadventure," highlighting that "the president of Argentina has been accused of fraud after praising a cryptocurrency." It is noted that this is not his first encounter with controversy on this subject and that it is his "first serious embarrassment as president."
Since the $Libra scandal erupted, Milei has faced 122 cases in the Argentine criminal justice system. Prosecutor Eduardo Taiano is pursuing the first indictment against Milei in a case in Federal Court for abuse of authority, fraud, influence peddling, and bribery.
The photo Javier Milei took with U.S. President Donald Trump could not overshadow the worldwide repercussions of the $Libra cryptocurrency scam, in which Milei participated by promoting and disseminating it on his social media. An article from Forbes described the scandal as a "fiasco" and "the largest cryptocurrency theft in history."
Forbes highlighted that the Argentine president "faces a fraud investigation after promoting a cryptocurrency that collapsed within hours, vaporizing billions in value."
In the investigation being pursued by Taiano, in addition to Milei, the creator of $Libra, Hayden Mark Davis, and Julian Peh, CEO of Kip Protocol, are also being investigated. Possible crimes of market manipulation in conjunction with aggravated fraud and aggravated insider trading are also being examined.
The Argentine government seeks to self-investigate through the Anti-Corruption Office and the recently created "Research Task Unit (UTI)." The aim is to investigate possible irregularities or acts of corruption in the government's connection with the promotion of the cryptocurrency. Additionally, there are plans to present the creator of $Libra as a whistleblower and complainant, and there are potential class-action lawsuits in New York.
