A congressional fee has printed an investigative report concluding that President Javier Milei dedicated “alleged fraud” after selling a suspected cryptocurrency scheme earlier this yr wherein traders misplaced a number of million {dollars}.
The report, ready by the decrease home Chamber of Deputies and chaired by members of the opposition, mentioned “the info analysed can be suitable with an alleged fraud” and assigned the “political accountability” to President Milei and his sister, Presidential Chief of Employees Karina Milei.
The fee despatched its findings to Congress for analysis on whether or not the President engaged in “poor efficiency within the train of his duties,” although no timetable has been set for that evaluation and it’s unlikely to progress.
The ultimate report, authorized after months of hearings and the overview of 10 technical and documentary recordsdata, not solely outlines suspected fraud and attributes direct accountability to President Milei, it additionally accuses key authorities officers of breaching their public duties and criticises the Judiciary for blocking essential investigative steps.
The controversy started in mid February when Milei posted a couple of little-known token known as $LIBRA on social media. The coin surged in worth after which collapsed inside hours, wiping out hundreds of thousands of {dollars} for native and overseas traders. Trade specialists have described the operation as a basic “rug pull” – a rip-off wherein builders launch a token, attract traders after which money out.
When $LIBRA went from increase to bust within the area of a day, President Milei later claimed he “didn’t know the main points of the venture.” He later denied having promoted the venture, saying he merely “shared” it. He described himself as a “fanatic techno optimist” and mentioned he needed Argentina to develop into a “know-how hub,” complaining he had “taken a slap” for “attempting to assist an Argentine.”
Dozens of authorized complaints have since been filed in opposition to the President and people linked to $LIBRA, together with some submitted in the US. All circumstances had been centralised beneath a single decide and prosecutor main the legal investigation.
The legislative fee mentioned in its report that it submitted its conclusions to the court docket investigation, although any additional motion by Congress on the $LIBRA case is unknown.
New lawmakers elected in October’s midterm vote take workplace on December 10. With a extra pro-Milei composition from that time on, Congress is seen as much less prone to pursue any additional motion.
The fee was unable to query the President or his sister for the inquiry, as neither appeared for questioning once they had been summoned. Lawmakers additionally cited what they known as a “complete lack of cooperation” from the administration, noting that different officers had been summoned however didn’t seem.
Lawmakers argued within the report that the $LIBRA case will not be an remoted episode. Their report traced what they known as a previous modus operandi, citing earlier digital-asset promotions involving the KIP Protocol token, launched in December 2024, and the Vulcano and CoinX platforms. The names of Mauricio Novelli, Manuel Terrones Godoy and President Milei all seem once more, in roles starting from promotion to alleged intermediation.
The fee integrated detailed technical experiences. One assessed that 80 % of wallets misplaced cash, whereas solely a really small circle secured substantial income.
– TIMES/AFP/PERFIL
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