Fraud Allegations Against President Milei Over Cryptocurrency Promotion

Judge Maria Servini in Argentina is investigating fraud allegations against President Javier Milei. Milei briefly promoted the $LIBRA cryptocurrency, which collapsed shortly after its launch. Despite denying involvement with its creators, Milei faces legal actions filed by plaintiffs alleging illicit associations to commit fraud.

In Argentina, President Javier Milei faces scrutiny over fraud allegations related to his brief endorsement of the $LIBRA cryptocurrency, which plummeted in value shortly after its debut. The situation has sparked legal actions, with accusations swirling around potential illicit associations aiming to defraud investors.

The controversy emerged when Milei tweeted about the cryptocurrency, developed by KIP Protocol and Hayden Davis, on its launch day. He praised it as a tool for economic growth. However, the coin's value quickly declined, leading to substantial losses for many investors and prompting questions about the president's involvement.

Milei and his office have consistently denied any direct connection to the cryptocurrency's creators, emphasizing that the president's social media promotion was part of his routine support for entrepreneurial projects. Meanwhile, Judge Maria Servini has been entrusted with investigating these allegations of fraud, although no deadline has been set for her findings.

(With inputs from agencies.)