Federal Court 1, presided over by Judge María Servini, was appointed on Monday by draw to centralize the complaints filed against President Javier Milei. The complaints allege that Milei may have been involved in illicit association, fraud, and breach of the duties of a public official, among other crimes. Essentially, the investigation aims to determine if Milei’s actions were lawful.
We’ve seen the opposition Union for the Homeland, which is linked to Peronism, denounce that Milei was part of an illegal association that organized a scam with the $ Libra cryptoc city. The lawyers leading one of the demands have been quite vocal about the issue. It’s worth noting that deputies from this opposition party have announced plans to promote a political trial against Milei in Congress. Meanwhile, other political forces are calling for an investigative commission and interpellation of the President.
This scandal has had significant repercussions, with the main actions falling almost 4% in the opening of the Buenos Aires Stock Exchange. Although it’s a holiday in the United States, and the New York markets aren’t operating, the complaint includes several key figures, such as Julián Peh, CEO and confounder of Kip Network and Kip Protocol – companies that participated in the creation of $ Libra. Additionally, the president of the Chamber of Deputies, Martín Menem, is also implicated, having reproduced Milei’s message on Network X on Friday.
The judicial presentation highlights that immediately after the presidential support message, the price of the cryptoactive recorded an exponential rise, only to collapse within 5 hours. According to the letter, the fact that President Milei and other referents of his party La Libertad Avanza promoted the Token granted legitimacy to the project, leading thousands of investors to trust it. As a result, the price rose, and the groups that controlled the largest amount of the Token liquidated their positions, obtaining an exorbitant gain. The complainants argue that the promotion of $ Libra by President Milei was not random or naive, given that only three minutes passed between the Token’s launch and the presidential tweet.
The arguments against the Argentine president
Milei, an economist by profession, is a broad connoisseur of cryptocurrencies and their operation. The lawsuit requests that justice search the presidential residence of Olivos and seize computers, tablets, and mobile phones. Moreover, the complaint asks for the intervention and expertise of platform X to guard the content of President Javier Milei’s account – @jmilei – and other denounced individuals, including the records of his erased tweets. The complaint also seeks the traceability of transactions to identify the beneficiaries of the scam. It’s a complex situation, and the investigation will likely be thorough.
In addition to this complaint filed with the Prosecutor’s Office, another hundred complaints have been promoted through digital channels, according to judicial sources cited by the local press. The situation is still unfolding, and we’ll have to wait and see how it develops. With information from AFP, it’s clear that this is a story that will continue to evolve in the coming days.