Scandal in Argentina: Cryptocurrency Chaos Ties President Milei to Fraud Probe

Allegations of fraud surround Argentine President Javier Milei after he promoted a cryptocurrency that quickly collapsed. Despite Milei's distancing, claims against him and his role in the situation are investigated by Judge Maria Servini. The cryptocurrency, $LIBRA, led to significant financial losses for investors.

Allegations of fraud have engulfed Argentine President Javier Milei, following his brief endorsement of a cryptocurrency that dramatically plummeted in value shortly after launch. The president has since distanced himself from the scandal, asserting his initial promotion of $LIBRA was in good faith.

The case, now overseen by Judge Maria Servini, arose from complaints filed by lawyers after the cryptocurrency collapsed, causing extensive financial losses for investors. Milei's involvement with the creators of $LIBRA has been denied by his office, emphasizing he had no hand in its development.

Despite his administration's attempts to manage the fallout, and Milei's subsequent removal of promotional posts, the controversy persists, potentially undermining public confidence. The president's alleged ties to the crypto project are being investigated, with significant political implications hanging in the balance.

(With inputs from agencies.)