Appeal filed in Argentina against dismissal of case involving President Milei — Buenos Aires Times
In Argentina, investor Juan Patricio Marchetto, who suffered losses after the collapse of the $LIBRA cryptocurrency, has appealed the decision to close the investigation into President Javier Milei, his sister and presidential chief of staff Karina Milei, as well as nine other people. This was reported by the Buenos Aires Times.
Marchetto, represented by lawyers Juan Grabois and Nicolás Rechanik, filed a 40-page complaint. He is challenging the actions of federal judge Marcelo Martínez de Giorgi and prosecutor Eduardo Taiano.
Decision to close the case
Last Friday, Judge Martínez de Giorgi ordered the case closed and transferred to the archives once the decision enters into force. He granted the prosecutor's request to discontinue proceedings against all 11 individuals. None of them was summoned to provide formal explanations as a suspect.
The investigation concerned suspicions of fraud and possible financial violations surrounding the $LIBRA memecoin. Milei posted a message promoting it on social media platform X on February 14, 2025. The token's value initially surged sharply and later collapsed, prompting accusations of deceiving investors and questions about the president's involvement in its promotion.
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Arguments of the appeal
Marchetto argues that the judge equated insufficient evidence with the absence of a crime, selectively assessed the available materials, and provided insufficient grounds for closing the proceedings. Those against whom the proceedings were discontinued include businessman Mauricio Novelli, linked to the project; American entrepreneur Hayden Mark Davis; and former adviser to the National Securities Commission Sergio Morales.
The appeal cites phone connections between Milei and Novelli minutes before the president's post. According to Marchetto, Novelli called Milei three times and received another call from him shortly before the post appeared. The document also points to 87 transactions through 74 cryptocurrency wallets totaling approximately $13.5 million, recorded seconds before Milei published the code to purchase the token.
Marchetto asks for the purpose of these funds to be verified and for examinations of electronic devices linked to other individuals involved to be completed. He was previously removed from the proceedings as a private prosecutor, and a federal court upheld that decision. His status is now being considered by Argentina's Federal Cassation Court, so the admissibility of the appeal has not yet been determined.
