Judge Orders Probe Into President Milei’s Finances Over LIBRA Collapse

Argentina’s President Javier Milei is facing serious legal scrutiny about his role in a failed cryptocurrency project, LIBRA.

A federal judge has asked the country’s central bank to lift the privacy on Milei’s personal bank accounts. This is part of an ongoing investigation into the LIBRA token scandal now widely known as “CryptoGate.”

Judge Targets Milei’s Bank Records

Federal Judge María Servini is leading the investigation. She recently told the Central Bank of Argentina to unseal President Milei’s and Karina Milei’s private financial accounts. This move is part of a broader effort to understand the financial ties between Milei and the people behind the LIBRA token, which collapsed shortly after launch.

According to reports from a local news outlet, Karina Milei had meetings with some of the LIBRA co-founders before the project went public. Infact, one of the co-founders had allegedly boasted about paying the president’s sister in exchange for promotional favors. This has raised concerns about possible insider dealings.

The judge had already frozen the bank accounts of three LIBRA co-founders. Now, new evidence has been added to the case. 

Reportedly, video footage shows the mother and sister of one of the co-founders emptying safe-deposit boxes the day after the token launch. Prosecutors are now reviewing this suspicious behavior.

The Rise and Fall of LIBRA

The LIBRA token started with much excitement. It got even more attention when President Milei publicly supported it, calling it a big technological step. His words made many people believe LIBRA was a good investment.

However, hours after his endorsement, things went wrong. The token’s value dropped more than 90%, and millions of dollars were lost. Many investors who rushed in with high hopes ended up with almost nothing. 

The scandal has triggered public anger, with some calling for Milei’s impeachment and accusing him of fraud. Milei later withdrew his support for the token and claimed he was promoting it as a super technology enthusiast.

President Milei and Sister Skip Legal Summons

President Milei and his sister have also refused to attend a court-ordered mediation. A lawyer speaking for 25 investors requested this meeting. These investors, from Argentina and other countries, lost significant money when the LIBRA token crashed. Many are upset that they did not show up, which has made people even more suspicious.

President Milei has denied involvement with the token scandal. Nevertheless, the investigation is moving quickly. The judge’s recent action requesting Milei’s financial records is a big step in the case.

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