An Argentine federal judge has dismissed a criminal case against President Javier Milei and his sister Karina, who were accused of promoting a cryptocurrency scam that reportedly caused $100 million in investor losses. Judge Marcelo Martinez de Giorgi ruled that the events did not constitute a criminal offense, stating that investor losses and price fluctuations were insufficient to prove fraud.
The case centered around Milei's promotion of the $LIBRA meme coin in a February 2025 social media post, which he later deleted after the currency crashed. Milei denied knowing the details of the project, while industry experts described the operation as a "rug pull" scam, where developers attract investors before abandoning the project.
The investigation also cleared nine other individuals under scrutiny. The judge found no evidence that Karina Milei received payments for facilitating meetings between the cryptocurrency's developers and her brother, stating that such contacts did not amount to influence peddling.
Following the ruling, Milei criticized the case as politically motivated, demanding compensation for what he called a year of lies and defamation aimed at tarnishing his reputation.