The victims of the $LIBRA fraud are claiming financial losses ranging from US$500 to US$1.8 million.

On Monday, Argentine President Javier Milei was summoned to a preliminary mediation hearing scheduled for May 15 in connection with the failed cryptocurrency $LIBRA. This coin was launched on February 14 and promoted by the far-right politician on his social media accounts before crashing and leaving thousands of investors harmed.

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Also summoned were his sister, Karina Milei—who serves as the Presidential Secretary—, the Presidential Spokesperson Manuel Adorni, former advisor to the National Securities Commission (CNV) Sergio Morales, businessmen Mauricio Novelli, and his partner Manuel Terrones.

Milei and his sister were notified of the mandatory preliminary mediation as part of a class-action lawsuit for damages filed by a group of 26 investors who purchased $LIBRA, according to Nicolas Oszust, the attorney representing the affected parties.

The victims of the $LIBRA fraud, who are spread across the U.S., Türkiye, Spain, the UK, Lebanon, and other countries, are claiming financial losses ranging from US$500 to US$1.8 million.

The hearing will be held online before a mediator. The parties are not required to attend in person and may send a representative.

“My expectation is that they show up and that we can secure compensation for my clients. We believe they are responsible for the unlawful act that was committed. They deliberately engaged in the market to carry out a ‘rug pull’—a maneuver designed to pull the rug out from under investors—thereby stripping my clients of their assets. Everyone we’ve named participated in creating the fraud that caused various harms,” stated attorney Oszust.

Monday marked two months since the ‘crypto fiasco’ involving Milei, who had encouraged his thousands of followers on X to invest in $LIBRA in order to “stimulate the growth of the Argentine economy by funding small businesses and entrepreneurial ventures in Argentina.” Hours later, however, he deleted his post and asserted that it was a private venture with which he had no connection whatsoever.

On Friday, Chief of Cabinet Guillermo Francos will appear before the Chamber of Deputies to deliver his first management report of the year and will be questioned about the $LIBRA scandal. Previously, on April 8, lawmakers approved the creation of a commission to investigate this cryptocurrency case.

teleSUR/ JF

Source: EFE

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