Investigations against Javier Milei are proceeding after his involvement in the LIBRA scandal. Judge Sandra Arroyo Salgado is examining his assets and whereabouts during the pump-and-dump incident.
This judge is also investigating similar topics regarding key political allies, especially his sister Karina. At present, it’s unclear if she will file criminal charges, but this scandal is not ideal for anyone’s political career.
How Much Was President Milei Involved With LIBRA?
Since the LIBRA scandal rocked the meme coin market and Argentina’s political space last month, legal consequences have been falling on many of the perpetrators. Arrest warrants were issued for market maker Hayden Davis, and civil suits are active against its private backers.
Now, prosecutors are also investigating President Javier Milei’s assets to determine his LIBRA involvement:
“The LIBRA case would exemplify a crypto scam maneuver…a form of fraud. The promotion of this type of investment can undermine economic and financial systems over which the National Government is obligated to control and regulate their activities to prevent the movement of illicit and extra-systemic capital,” warned Judge Sandra Arroyo Salgado.
Specifically, Judge Arroyo Salgado is investigating Milei’s connections to LIBRA, looking at several avenues. She wishes to determine his entire itinerary during the period that he publicly promoted the token.
Additionally, she ordered an investigation into his assets alongside his sister and several other prominent political allies.
The LIBRA scandal was so massive that investigations against Milei began almost immediately. Several US enforcement agencies were informed that they could also pursue charges against him, but none rose to the opportunity.
By looking at his assets and whereabouts, Arroyo Salgado wishes to nail down definitive proof of his involvement.
President Milei, for his part, immediately denied any direct connection to LIBRA, but a subsequent televised interview only damaged his reputation further. According to a recent poll, most Argentinians have lost trust in their President.
Regardless of the odds of criminal proceedings, factors like this could impede his ability to pass legislation or enact policy.
Ultimately, it’s unclear what specific consequences Milei may face from the LIBRA debacle. He is a sitting head of state, and charging him with a criminal offense would be a dicey prospect in any circumstance.
Still, investigations against him are intensifying. If he did engage in political corruption with the LIBRA backers, it would leave telltale clues.
