The Federal Court of Argentina has ordered the country’s Central Bank to grant access to the bank accounts of President Javier Milei and his sister Karina Milei in connection with an investigation concerning the president’s involvement in the cryptocurrency project LIBRA.
This is reported by Business • Media
Judge María Servini decided to lift the banking secrecy on the accounts due to a scandal related to the 99% devaluation of the LIBRA token just hours after its high-profile launch. This resulted in significant financial losses for investors.
Essence of the Investigation and Reaction from Lawmakers
The investigation is examining a possible financial connection between the president and his associates with the creators of the LIBRA token. One lawmaker noted:
“This is not just the collapse of another cryptocurrency. It is a serious issue of trust in institutions and accountability at the highest level.”
Media reports indicate that Milei and his sister ignored a court summons for a hearing in a civil lawsuit filed by a lawyer on behalf of 25 affected investors, both local and foreign. Previously, the court had already frozen the assets of three co-founders of the LIBRA token, and prosecutors are reviewing video evidence suggesting that the mother and sister of one of the co-founders allegedly removed contents from bank safes the day after the president publicly supported the token.
Accusations and Denials
Reports have also emerged regarding correspondence in which LIBRA project co-founder Hayden Davis allegedly paid Karina Milei for assistance in promoting the token. In response to the allegations, Javier Milei categorically rejected any suspicions of conspiracy or fraud, stating that
“he was merely promoting the project as a fan of cutting-edge technology”
and had no intention of misleading anyone.
It is worth noting that Argentine lawmakers initiated an investigation into the LIBRA cryptocurrency project in early April.