Milei and sister exit $Libra fraud case as judge finds no deception

Federal judge Marcelo Martinez de Giorgi dismissed the criminal investigation into Argentine President Javier Milei and his sister Karina Milei, according to court records. The judge acted after prosecutors requested the closure of the case. In his ruling, Martinez de Giorgi stated that the reported events did not fall under a specific legal category. He concluded that no criminally relevant deception had been proven.

The legal dispute centered on $Libra, a cryptocurrency that crashed shortly after its launch. In February 2025, Milei posted on X, formerly Twitter, that the coin would help fund small businesses and startups. He included a link to purchase the asset. Following the post, the price of the coin rose sharply.

Within hours, Milei deleted the social media post. The value of the coin then plunged. Most investors lost the majority of their money. This rapid decline prompted opposition members of Congress to plan impeachment proceedings. Online critics accused the president of executing a rug pull, a scheme where promoters halt trading to keep the raised capital.

Milei has rejected these accusations in multiple interviews. Speaking to Todo Noticias, he clarified that he merely shared the information rather than promoting it. He stated that he acted in good faith while the coin was rising in value. The president defended his decision to delete the post by explaining that he did not know the details of the project. After learning more, he decided to stop promoting it.

In a television appearance, Milei argued that investors put money into $Libra voluntarily. He said they understood the risks involved. The presidential office previously stated that the president had no involvement in the development of the coin. The office also announced that the Anti-Corruption Office would examine whether the president had acted improperly at the time of the incident.

The dismissal ends the formal criminal inquiry into the pair. It does not address the political pressure from opposition lawmakers or the financial losses of individual investors. Milei had not responded to the news of the dismissal at the time of the original report.