Quick Summary
- Federal Judge María Servini has ordered the unsealing of bank records for President Javier Milei and his sister Karina.
- The probe follows the collapse of the LIBRA cryptocurrency, promoted by Milei in February.
- Investors lost an estimated $4.5 million after the coin’s value plummeted.
- Key figures, including businessman Mauricio Novelli, are under investigation.
- Security footage shows Novelli’s family accessing safe deposit boxes days after LIBRA’s promotion.
- Milei and Karina skipped a mediation hearing, raising legal concerns.
A Presidential Promotion Turns Sour
The LIBRA cryptocurrency scandal is shaking Argentina’s political and financial circles. It all began in February 2025, when President Javier Milei used his official X (formerly Twitter) account to promote LIBRA, describing it as a project to “support Argentina’s economy by funding small businesses.” The post ignited a surge in LIBRA’s value—but that spike was short-lived.
The token’s value soon collapsed, leaving investors—both local and international—with millions in losses. The fallout has triggered a growing legal and political investigation.
Judge Unseals Milei’s Bank Records
In a major escalation, Judge María Servini has ordered the Central Bank to lift banking secrecy on the accounts of Milei and his sister Karina, allowing investigators to scrutinize transactions from 2023 onward. This move follows allegations of financial misconduct tied to the LIBRA promotion.
Missed Hearings, Frozen Accounts, and Rising Legal Pressure
Adding to the controversy, Milei and Karina failed to attend a scheduled mediation hearing, part of a civil lawsuit seeking damages for the crypto losses. Their absence—without sending legal representatives—has raised eyebrows and increased the likelihood of further legal actions.
Meanwhile, Judge Servini also froze accounts linked to other key figures, including:
- Mauricio Novelli, businessman and alleged LIBRA promoter
- Sergio Morales, former advisor to the National Securities Commission
Surveillance Footage Adds Fuel to the Fire
The case intensified further when bank security footage from February 17—just days after Milei’s promotional tweet—surfaced, showing Novelli’s mother and sister accessing safe deposit boxes. Prosecutors are now investigating whether these actions are connected to the LIBRA scam funds.
What’s Next?
As Argentina’s LIBRA crypto scandal continues to unfold, investors seek over $4.5 million in damages, and the political implications for President Milei deepen. With financial records exposed and legal scrutiny mounting, the coming weeks could be pivotal in determining accountability for one of the country’s most high-profile crypto controversies.