Argentina’s President Milei Faces Criminal Fraud Charges

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Argentine President Javier Milei is facing criminal fraud charges due to his promotion of the $LIBRA token, which initially skyrocketed to a $4.5 billion valuation before collapsing.

The charges were filed in criminal court on Sunday by Argentine lawyers, who argue that Milei’s social media endorsement of $LIBRA was part of an illicit association aimed at committing fraud, as reported by the Associated Press.

Jonatan Baldiviezo, one of the lawyers involved, stated, “Within this illicit association, the crime of fraud was committed, in which the president’s actions were essential.”

The plaintiffs, including Baldiviezo, lawyer Marcos Zelaya, engineer María Eva Koutsovitis, and former Central Bank president Claudio Lozano, described the incident as a “rug pull.” They contend that it breached Argentina’s Public Ethics Law.