The investigation into Argentina’s failed LIBRA cryptocurrency is heating up as federal Judge María Servini has unsealed bank records related to President Javier Milei and his sister, Karina. The probe into the multi-million-dollar scam has garnered significant political attention and extends to individuals involved in promoting the cryptocurrency.
Judge Servini’s decision to lift the bank secrecy on Milei and his sister’s accounts marks a significant development in the case. The records from 2023 onwards will be closely scrutinized following allegations of financial misconduct tied to the LIBRA promotion.
The controversy surrounding LIBRA began in February when Milei used his official X account to promote the cryptocurrency, claiming it would support Argentina’s economy by funding small businesses. The initial surge in value was short-lived, leading to substantial losses for investors. In response, the government initiated an investigation into senior officials, including Milei, associated with the token’s promotion.
In addition to Milei and his sister, Servini ordered the freezing of bank accounts linked to key figures in the creation and promotion of LIBRA, such as Mauricio Novelli and Sergio Morales. Milei and his sister’s absence from a mediation hearing in a civil lawsuit seeking damages for the scam has raised further questions and potential legal actions.
Victims of the scam, both local and international, are pursuing a lawsuit to seek compensation for estimated losses of $4.5 million. The investigation has also expanded to include Novelli’s family after security footage allegedly showed them removing items from safe deposit boxes at a bank shortly after Milei’s promotional post.
The unfolding LIBRA case has broader implications for Milei’s political career as legal and financial scrutiny intensifies. As the investigation progresses, it remains to be seen how the case will impact both Milei and the future of cryptocurrency in Argentina.
The original article was posted on Cryptonews and highlighted the latest developments in the LIBRA investigation. It is crucial to closely monitor the case as it unfolds to understand the full extent of the scam and its impact on those involved.