Argentina: Milei and Karina Acquitted in Cryptogate Case

Federal judge Marcelo Martínez de Giorgi determined that the investigated conduct did not constitute the crime of fraud. The decision affects all suspects, including Mauricio Novelli, Manuel Terrones Godoy, Sergio Morales, and American businessman Hayden Mark Davis. The cryptocurrency Libra was announced by Milei on February 14, 2025, and acquired at cost price by insiders, which caused a drastic drop in its value after generating estimated profits of over 100 million dollars. The collapse of Libra is also being investigated in U.S. courts. Additionally, a group of victims has filed a civil lawsuit for damages of 4.5 million dollars, and Parliament has established an investigative commission.

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