A group of lawyers in Argentina have sued President Javier Milei over fraud charges related to him promoting a cryptocurrency $LIBRA on social media platform ‘X'(formerly Twitter) and later denying any involvement after the token resulted in a classic rug pull scam of $107 million.
The lawyers have claimed in their petition that the Argentinian president was not directly involved in Libra crypto token but he facilitated a criminal activity by promoting it. On Friday last weekend, Javier Milei had promoted Libra token on his official X account claiming it was aimed at “encouraging economic growth by funding small businesses and startups.”
The X post by President Javier was later deleted after the crypto token resulted in a rugpull scam as the project developers brought down the liquidity by $107 million. The Libra token project snowballed into a major political controversy in Argentina with the opposition leaders demanding impeachment of President Javier.
In the wake of the ongoing political controversy, a group of lawyers led by one Jonatan Baldiviezo has alleged that through his efforts President Milei allowed fraudulent activities and breached Public Ethics Law standards. The plaintiffs believe the president’s endorsement of the coin belonged to an extensive criminal operation.
Within this illicit association, the crime of fraud was committed, in which the president’s actions were essential,” Jonatan said to Associated Press.
Despite skeptics claiming corruption at the highest level in Argentina, Milei claims he had no knowledge about the project details and blamed his political opponents for flaring up a non-existent issue. The Anti-Corruption Office of Argentina has announced its intent to move swiftly on this matter while a judge awaits assignment to this case. The issue has intensified the discussion about cryptocurrency regulation in Argentina which continues between parties.
Also Read: Argentina Prez $LIBRA Crypto Token Row: Who Won and Who Lost?
