Argentina Investigates Crypto Fraud Linked to President Milei

Argentine authorities are investigating potential financial crimes linked to the cryptocurrency LIBRA, following its promotion by President Javier Milei earlier this year. Judge María Servini launched an investigation into claims of market manipulation and money laundering, after a significant price surge in the digital asset followed Milei’s public endorsement. Security footage shows Novelli’s family entering a bank with empty bags but exiting with visibly weighted ones; subsequent raids on their safety deposit boxes found them empty. Servini ordered a 90-day freeze on assets tied to Milei, his sister Karina Milei (head of the General Secretariat of the Presidency), and three businessmen: Mauricio Novelli, Sergio Morales, and Manuel Terrones Godoy, to prevent any potential asset disposal during the investigation. Federal prosecutors argue this step is vital to preserve evidence amid suspicions of a centralized token distribution scheme. This scandal has ignited political tensions in Argentina, with opposition lawmakers demanding a congressional commission to examine potential abuse of power and accusations of fraud, bribery, and misuse of authority by Milei’s administration.