Argentina’s President Javier Milei could find himself facing serious criminal charges after promoting a dubious cryptocurrency to his 3.8 million X followers.
As reported earlier this week, Javier Milei posted on the social media platform, promoting a new token by the name of $LIBRA — arguing that the currency would help the development of the Argentine economy, as well as boost small businesses in the nation.
Since taking office 3 years ago, Javier Milei has cultivated a large following due to his brash statements, and his affinity to libertarianism. This popularity—which extended beyond Argentinians—caused a rapid surge in value for $LIBRA.
The token began to rapidly increase its market value after the post, reaching upwards of a $5 billion market cap in only a couple of hours. However, soon after that, the currency began dumping hard, which led to questions regarding Milei’s influence on a potential pump-and-dump scheme.
The South American President later denied any involvement with the project, arguing that he was only supporting a private project to which he had no connection whatsoever.
Fraud Complaints Filed Against Milei
According to the Associated Press, a group of Argentine lawyers filed fraud complaints against Milei. Jonatan Baldiviezo told the AP that he believes the President committed several different types of fraud after publicly endorsing the dubious cryptocurrency.
The filing was signed by lawyers Baldiviezo and Marcos Zelaya, engineer Maria Eva Koutsovitis, and the former head of the Argentine Central Bank Claudio Lozano.
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