Argentinian President Milei struck with fraud costs about Libra Cryptocurrency: Report

Argentinian President Javier Milei is confronted with fraud costs for his promotion of the Cryptocurrency scales, which rose more than a market capitalization of $ 4 billion minutes after the launch on Friday before he only crashed spectacular hours later.

The charges, submitted on Sunday in an Argentinian Criminal Court, were submitted by lawyers and political opponents of Milei, including the former head of the Argentinian Central Bank Claudio Lozano, according to the Associated Press.

The complaint claims that the team behind the Cryptocurrency scales – a Cryptocurrency Investment Company, known as Cheese Ventures and his CEO Hayden Davis – “has established an indefinite number of fraud” with Milei’s involvement.

“Within this illegal association, the crime of fraud was committed, in which the actions of the president were essential,” Jonatan Baldiviezo, a lawyer and one of the claimants, told the AP.

Milei originally promoted the scales -token on his X account at the end of Friday together with a link to the Viva La Libertad Project website. “This private project will be dedicated to encouraging the growth of the Argentinian economy by financing small Argentinian companies and startups,” said Milei in a post removed since then.

The post of the Argentinian president sent shock waves about the Crypto industry, reminiscent of the surpriseMeme of the US President Donald Trump’s Surprise Meme at the end of December, while traders and observers tried to determine the legitimacy of the project and Milei’s post.

Crypto -analyzed companies such as bubblemaps and chainalysis raised alarms just after the launch of Libra and recorded various red flags with the project. In particular, Bubblemaps revealed that 82% of the offer of the scales was kept by a single cluster of portfolios, which means that a single person – or a group of accompanying persons – has checked the vast majority of the offer.

As the concern was set up, traders and Token crashed with 89% in value, Bubblemaps claimed the team behind the “Selled” project, which about $ 87 million in USDC and SOL, the native token of the Solana network, out The liquidity removed, swimming pools that maintain the token.

Then, as Libra Exported, President Milei removed his original function and another followed.

“A few hours ago I placed a tweet, as I have countless times earlier, to support an alleged private company with which I clearly have no connection,” he wrote in the post. “I was not informed of the details of the project and after I learned about it, I decided not to continue to promote it (that’s why I removed the tweet).” The token then fueled further and lost more than 96% of its value of his peak price.

The Mea Culpa was apparently not enough to satisfy the group of lawyers who now wanted to hold Milei responsible for his actions. An Argentinian court is expected to assign a judge to the case or refer this Monday to a public prosecutor, the AP reported.