Argentina’s opposition parties have reignited an investigation into the role of President Javier Milei in the Libra scandal, introducing new allegations of corruption that have rattled the government just weeks before the elections in October. The move has sparked a wave of public anger, with demonstrators expressing their discontent through protests and public appearances.
Background of the Investigation
The commission, initially established in April, was largely paralyzed by bureaucratic and congressional hurdles. However, it was reactivated on August 28 after leaked documents suggested that Milei and his sister Karina were involved in a separate bribery scandal. The documents, belonging to former presidential attorney and government official Diego Spagnuolo, contained claims of money laundering relationships. Spagnuolo later admitted that the records were authentic, which has led to renewed scrutiny of the president’s actions.
Public Backlash and Protests
The scandal has triggered a significant public backlash, with demonstrators hurling salad and garbage during a public appearance by President Milei. Although no injuries were reported, the incident highlights the growing unrest against the president’s government. The fresh controversy has given the Libra probe new momentum, which had lost traction after Milei dissolved the initial Task Force in May.
Investigation and Political Implications
The Libra Affair centers on allegations of insider trading and a pump-and-dump scheme related to the digital token. According to a public prosecutor, the allegations may involve the highest levels of power in Argentina. Maximiliano Ferraro, a legislator of the Civic Coalition ARI and head of the new investigative body, stated that the Commission aims to determine whether misconduct has occurred. The investigation has been revitalized due to ongoing questions about potential insider trading.
Electoral Consequences and Challenges
Five opposition parties, representing 136 of the 257 legislators, voted to reopen the case despite the opposition from Milei’s allies. The Commission has set a report deadline of November 10, just weeks after the Argentine elections. The investigation adds to the growing challenges for Milei, who is already navigating a presidency burdened by economic turbulence and increasing dissatisfaction. The combination of corruption scandals and revived investigations could significantly impact his political future.
As the elections approach, the outcome of the investigation and its political consequences remain uncertain. The Libra scandal has shaken the crypto community in Argentina, but the broader allegations of bribery and abuse of power have resonated more deeply with the public. For more information, visit https://cryptoslate.com/argentinas-opposition-party-votes-to-reopen-investigation-into-president-milei-over-libra-scandal/
