Argentine President Javier Milei is under fire as lawyers file fraud charges against him for promoting a cryptocurrency on social media. The incident, involving the coin $LIBRA, has sparked controversy and legal action.
Legal Action Against Milei
Lawyers in Argentina have accused President Milei of fraudulent activities related to his endorsement of $LIBRA. The cryptocurrency, touted as a tool for economic growth, faced a sudden downfall after Milei’s endorsement, resulting in substantial losses for investors.
The legal team behind the charges, including Jonatan Baldiviezo and Marcos Zelaya, alleges that Milei’s actions constituted fraud and violated public ethics laws. The case is expected to undergo further investigation by the criminal justice system.
The Allegations
The lawyers accusing Milei have pointed out similarities between his actions and a notorious crypto scam known as a ‘rug pull.’ This scheme involves luring investors with a promising token and then abandoning the project once funds are raised, leaving investors with worthless assets.
Additionally, the plaintiffs claim that Milei’s endorsement of $LIBRA was a breach of ethical conduct, given the subsequent financial repercussions and lack of oversight in the cryptocurrency’s development.
Response from Milei
President Milei has responded to the allegations by stating that he was unaware of the details surrounding $LIBRA and has since distanced himself from the project. He attributed his initial endorsement to a lack of information and swiftly removed the promotional post following public backlash.
Furthermore, Milei’s administration has pledged full cooperation with the Anti-Corruption Office to investigate any potential wrongdoing by individuals associated with the cryptocurrency project.
Ongoing Investigations
The legal battle against Milei is unfolding as authorities delve into the events leading up to the cryptocurrency’s collapse. Hayden Mark Davis, a representative of KIP Protocol, has publicly blamed Milei for the project’s failure, alleging sudden withdrawal of support and deletion of social media endorsements.
As the case progresses, the judiciary will assess the evidence gathered by investigative bodies to determine the extent of liability for those involved in the $LIBRA venture.
