Milei's Assets Under Scrutiny in LIBRA Scandal Probe

Prosecutors in Argentina have initiated an investigation into President Javier Milei's assets and whereabouts during the LIBRA scandal. Judge Sandra Arroyo Salgado is leading the probe, which also involves key political allies, including Milei's sister Karina. The investigation aims to determine Milei's involvement in the pump-and-dump scheme that rocked the meme coin market and Argentina's political landscape.

Judge Arroyo Salgado has warned that the LIBRA case exemplifies a crypto scam maneuver, a form of fraud that can undermine economic and financial systems. She is examining Milei's connections to LIBRA, looking into his itinerary during the period he publicly promoted the token and ordering an investigation into his assets alongside his sister and other prominent political allies. The scandal has led to immediate investigations against Milei, with several enforcement agencies informed that they could also pursue charges against him.

Milei has 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. The investigation's intensification could impede Milei's ability to pass legislation or enact policy, regardless of the odds of criminal proceedings. The probe is expected to leave telltale clues if Milei engaged in political corruption with the LIBRA backers.

Arrest warrants have been issued for market maker Hayden Davis, and civil suits are active against private backers of LIBRA. The investigation into Milei's assets and whereabouts aims to nail down definitive proof of his involvement in the scandal. The LIBRA scandal has had significant repercussions, with investigations beginning almost immediately after the incident. The probe's outcome could have far-reaching implications for Milei's political career and the stability of Argentina's financial systems.