Argentine President Javier Milei is facing fraud allegations due to his promotion of the LIBRA token, which collapsed shortly after its launch.
Legal Action and Allegations
Lawyer Jonatan Baldiviezo and other legal professionals have accused Javier Milei of participating in an illicit scheme aimed at defrauding investors. The case is under Argentina's criminal justice system review.
What Happened with LIBRA?
The LIBRA token, developed on the Solana blockchain, experienced a drastic rise in value following Milei's public endorsement, only to lose 94% of its value afterward. Eight wallets associated with the LIBRA team managed to extract substantial funds before the crash.
Milei’s Response: Denial and Counterattack
Milei claimed he was unaware of the project's details and accused his political opponents of trying to damage his reputation. His administration initiated an investigation by the country's Anti-Corruption Office.
The allegations against Milei have triggered political scandal in Argentina. Calls for impeachment and further investigations could significantly impact his political career.
