Argentine lawyers charge President Milei with fraud over cryptocurrency promotion

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Montevideo (AP) – Argentine lawyers have brought charges of fraud against President Javier Milli in the Criminal Court on Sunday for promoting a coexing currency on social media.

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On Friday, Millie posted on X $ $ Libra, a currency he said aimed at “encouraging economic growth by financing small companies and startups.”

He deleted the post after a few hours and the value of the currency collapsed, causing millions of dollars losses to its brief investors, according to the financial site Dexscreener.

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The coin, which was developed by the KIP and Hayden Davis protocol, can be obtained by accessing the user's face link to a web called VivalibertProject.com, in reference to the known phrase that Milei closes speeches and messages on social media.

The President's office said in a statement on Saturday that Milli did not participate in any stage of the development of the cryptocurrency and decided to remove the post to avoid speculation and reduce more exposure, following the general reaction to the launch of the project.

Jonatan told Daviso, a lawyer and one of the prosecutors, the Fraoy Perunshunch Agreement, that they saw an illegal association to commit a “unspecified number of fraud” in this episode. He said, “Within this illegal association, it was committed, as the president's actions were necessary,” he said.

He signed the daviso petition with Marcus Zelia, another lawyer; Engineer Maria Eva Cutsvit. The economist Claudio Lausano, who headed the Argentine Central Bank during the administration of former President Alberto Fernandez. Criminal justice is expected to appoint a judge to the case or refer it to the Prosecutor to conduct more investigations on Monday.

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Prosecutors in the work of Millie saw a well -known operation in the world of encryption as “rug pull”. This happens when the developer calls an attractive symbol to attract investors, but it is abandoned later after the money becomes exaggerated, making the symbols worthless. Balfespo also added that Millie violated the Public Ethics Law.

The President's office said: “The President shared a post on his personal accounts that announce the launch of the KIP protocol project, as it does daily with many entrepreneurs who want to launch projects in Argentina to create jobs and attract investments.”

After deleting this position, Miley said in X that he was not aware of the currency development and blamed his political opponents for trying to exploit the episode. He said: “I was not aware of the details of the project, and after I was informed, I decided not to continue to promote it (which is the reason for deleting the tweet).”

The president's office said that the country's anti -corruption office, which works within the framework of the executive branch, will act immediately. The administration also admitted that Miley and his administration members recently met with representatives of the KIP protocol in the presidential office.

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“All the information collected in the investigation will be delivered to the judiciary to determine whether any of the companies or individuals associated with the KIP project has committed a crime.”

Hayden Mark Davis, a representative of the KIP protocol who met Mili, blamed the president for the collapse of the encryption in a video clip posted on social media on Saturday.

Davis said: “Despite the previous obligations, Milli and his team changed their position unexpectedly, and withdrew their support and deleted all previous jobs on social media,” Davis said.

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