President Milei of Argentina Faces Criminal Allegations due to the Collapse of Libra Token

President Milei in Hot Water Over Crypto Token

Argentine President Javier Milei is under the scanner for allegedly being involved in a cryptocurrency scam. The controversy revolves around the Libra (LIBRA) token, which Milei had endorsed on social media. The value of the token skyrocketed after his endorsement, but it plummeted soon afterward, losing more than 94% of its value.

Lawyers Marcos Zelaya, Jonatan Baldiviezo, María Eva Koutsovitis, and economist Claudio Lozano have filed criminal charges against Milei, accusing him of fraud and violating the Public Ethics Law. The lawyers claim that Milei failed to disclose his assets and potential conflicts of interest, as required by law. A judge will handle the case or refer it for further investigation.

Separately, lawyer Agustín Rombolá has filed a complaint accusing Milei of fraud, price manipulation, and financial crimes. Rombolá, a member of the Unión Cívica Radical party, also announced plans for a class-action lawsuit for investors who lost money due to the token's collapse.

Milei's office has denied any wrongdoing, stating that he had no connection with the company behind the token and was unaware of the project's details. In response to the backlash, Milei requested the Anti-Corruption Office to investigate all government officials, including himself.

The controversy surrounding the Libra token's legitimacy has also arisen. Analysts found that the token's website domain was created just hours before its launch, and there is no public record of the site's ownership. KIP Protocol, a Web3 company, confirmed that it was hired to assist in distributing project funds to local businesses but denied creating the token or managing its market activities.

Lawmaker Leandro Santoro has called for Milei's impeachment over the controversy. As the investigation progresses, authorities will review complaints and decide on further legal action.

Experts have classified the collapse of the Libra token as a "rug pull" scam, where developers abandon projects after cashing out. If Milei is found to be involved in this scheme, he may face significant consequences, both legally and politically.

Argentinacrypto scandalCryptocurrency scamLibra tokenPresident Milei

Enrichment Data:

Milei promoted the Libra token on social media, calling it a "private project" meant to stimulate the Argentine economy.
The surge in the token's value following Milei's endorsement raises suspicions of insider trading.
Analysts classified the Libra token's collapse as a "rug pull" scam, a common practice where developers abandon projects after cashing out.
Milei's approval ratings dropped significantly following the controversy.
Opposition lawmaker Leandro Santoro has called for Milei's impeachment over the scandal.
Milei's office denies any wrongdoing, claiming he had no connection with the company behind the token and was unaware of the project's details.
The indictment against Milei claims he misled investors, violated the Public Ethics Law, and provided insider information to his sister, Karina, through a Libra creator.

Marcos Zelaya, Jonatan Baldiviezo, María Eva Koutsovitis, and economist Claudio Lozano, along with lawyer Agustín Rombolá, have accused President Milei of fraud, price manipulation, and financial crimes in relation to the Libra cryptocurrency token, which he had endorsed on social media.
There are suspicions of insider trading regarding the sudden surge in the value of the Libra token after Milei's endorsement, as analysts classify its collapse as a "rug pull" scam, a common practice where developers abandon projects after cashing out.
Lawyer Leandro Santoro, an opposition lawmaker, has called for Milei's impeachment over the Libra token scandal.
Milei's approval ratings have dropped significantly following the controversy, and his office denies any wrongdoing, stating that he had no connection with the company behind the token and was unaware of the project's details.
If Milei is found to be involved in the Libra token's "rug pull" scam, he may face not only legal consequences but also political ramifications, given the public outcry and potential violation of the Public Ethics Law.