Argentina drops investigation into President Milei over crypto fraud
Summary
Argentina’s federal judge closed a criminal case against President Javier Milei and his sister regarding a cryptocurrency called $Libra. The investigation ended because there was no clear proof of fraud or illegal wrongdoing linked to Milei’s social media post about the crypto.Key Facts
- President Javier Milei and his sister were investigated for possible fraud related to the cryptocurrency $Libra.
- The case was dropped by judge Marcelo Martinez de Giorgi after prosecutors requested dismissal.
- Milei had shared a post on social media about $Libra, saying it would support small businesses and startups.
- The price of $Libra rose sharply after Milei’s post but fell quickly after he deleted it, causing losses for investors.
- Some lawmakers called for Milei’s impeachment, accusing him of a “rug pull,” a scam where promoters dump a crypto and leave investors with losses.
- Milei said he only shared the post in good faith and was unaware of $Libra’s details when promoting it.
- The judge ruled there was no “criminally relevant deception” proven against Milei.
- The Anti-Corruption Office in Argentina reviewed Milei’s conduct to check for any improper actions.
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