Argentinian judge drops fraud investigation into Milei over crypto scandal
Also reported by BBC World
Summary
An Argentinian judge ended a fraud investigation into President Javier Milei and his sister related to a cryptocurrency called $Libra, which fell in value after promotion by Milei. The judge ruled there was no criminal offense, and losses suffered by investors did not prove fraud.Key Facts
- Judge Marcelo Martinez de Giorgi stopped the fraud inquiry into President Javier Milei and his sister.
- The investigation concerned the launch and crash of the $Libra cryptocurrency promoted by Milei on social media.
- The judge said investor losses and price changes did not show a criminal fraud.
- Milei deleted his post about $Libra and denied any connection to the token after its value dropped.
- The judge also dropped charges against US businessman Hayden Davis, who was linked to the token launch.
- The official presidential office stated this was the first time an Argentinian president was investigated freely and found innocent.
- Milei is known as an ally of US President Donald Trump, who supports him politically.
- Since 2023, Milei has made austerity cuts like reducing state employees and government spending to combat inflation.
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