The investigation into the failed Argentine LIBRA cryptocurrency intensifies as federal Judge María Servini orders the unsealing of bank records and freezing of assets tied to President Javier Milei, his sister Karina, and other key figures involved in the LIBRA token promotion. The probe targets potential financial misconduct linked to the multi-million-dollar scam of the LIBRA memecoin.
Milei's initial endorsement of LIBRA sparked a surge in the token's value, but it quickly collapsed, leading to significant investor losses and widespread outrage. Following these events, the Argentine government and judicial authorities scrutinized the financial dealings surrounding the project, resulting in freezing bank accounts of businessmen like Mauricio Novelli and former National Securities Commission advisor Sergio Morales.
The judge's decision to lift bank secrecy from accounts starting in 2023 marks a pivotal moment in uncovering the extent of the alleged fraud. Additionally, security footage showing suspicious removal of items from safe deposit boxes by Novelli’s family has intensified prosecutor investigations.
Milei and his sister’s failure to attend a scheduled civil mediation hearing further escalates legal pressure, with victims seeking approximately $4.5 million in damages. The case is attracting significant political and regulatory attention, suggesting potential tightening of cryptocurrency investment oversight in Argentina, especially regarding political endorsements.