Prosecutors investigate Javier Milei actions amid LIBRA collapse
President Milei under investigation in LIBRA memecoin scandal.
Legal scrutiny surrounding Argentina’s President Javier Milei is intensifying as Judge Sandra Arroyo Salgado leads an investigation into his alleged involvement in the LIBRA meme coin scandal.
The probe centers on suspicions of market manipulation and fraud tied to the pump-and-dump scheme that rocked both the crypto space and Argentina’s political landscape last month, reports BeInCrypto.
Judge Examines Milei’s Assets and Itinerary
Judge Arroyo Salgado, known for her high-profile anti-corruption cases, is examining President Milei’s financial records and movements during the period in which he publicly promoted LIBRA. According to court filings, the investigation aims to determine whether Milei or close political allies—including his sister and top aide, Karina Milei—had financial ties to LIBRA or benefited from its price manipulation.
“The LIBRA case would exemplify a crypto scam maneuver… a form of fraud,” Salgado stated. “The promotion of this type of investment can undermine economic and financial systems, over which the National Government is obligated to exercise oversight.”
While criminal charges have not yet been filed, the investigation has expanded rapidly. Salgado has ordered asset reviews and travel logs for multiple figures in Milei’s inner circle, hoping to identify patterns or links to known LIBRA operatives. Arrest warrants have already been issued for Hayden Davis, a key market maker in the LIBRA scheme, and civil lawsuits are underway against its financial backers.
Political Fallout Mounts Amid Legal Uncertainty
Though President Milei has publicly denied any personal connection to LIBRA, his handling of the scandal has drawn criticism. A recent televised interview intended to defend his position reportedly further eroded public confidence. According to new polling data, a majority of Argentinians say they no longer trust the President.
Even without formal charges, the ongoing investigation could have far-reaching political consequences. With public trust waning and legal pressure mounting, Milei may face difficulties pushing legislative reforms or securing political capital.
While U.S. enforcement agencies were alerted to the LIBRA case, none have moved to pursue charges against Milei. Nonetheless, Argentine prosecutors remain focused on tracing the financial trails left behind by the scandal.
As the probe continues, Judge Arroyo Salgado is expected to release further updates. Should definitive proof emerge tying Milei to LIBRA’s backers, the implications could be severe—not only for his presidency but for the broader perception of crypto’s role in politics.
Recently we wrote, that LIBRA creator accuses Javier Milei of manipulations and asks what to do with $100M raised from the launch.
