Javier Milei, Argentina's President, Is Under Investigation for His Alleged Involvement in the 'Libra (LIBRA)' Meme Coin Scandal

Argentine President Javier Milei is under investigation by judicial authorities for his alleged involvement in the meme coin 'Libra (LIBRA)' scandal.

Argentine President Javier Milei is being investigated by judicial authorities for his alleged involvement in the meme coin ‘Libra (LIBRA)’ scandal. It is reported that the judiciary is tracking President Milei's asset details and his whereabouts during the relevant period.

According to BeInCrypto on the 28th (local time), Judge Sandra Arroyo Salgado stated, “The Libra case is a typical virtual asset (cryptocurrency) fraud scheme,” warning that “promoting such types of investment products can infringe on the financial and economic systems that the government needs to control and regulate.”

In particular, the judiciary has expanded the scope of the investigation to include the asset details of political aides, including President Milei's sister, Karina Milei, while tracking his movements during the period he publicly promoted the coin.

So far, no criminal charges have been confirmed against President Milei. However, there is analysis that this issue could negatively impact President Milei's legislative push or governance. U.S. authorities also considered the possibility of indicting President Milei, but no substantial moves have been made yet.

Going forward, the judiciary plans to focus its investigative efforts on proving a direct connection to the Libra scandal, centering on President Milei's asset flows and potential violations of public ethics.

Meanwhile, the Libra scandal, a massive pump-and-dump incident that shook the meme coin market and Argentine politics, has intensified investigations into the participants since it occurred last month. An arrest warrant has been issued for market maker Hayden Davis, and civil lawsuits are underway against private investors.