Argentinian judge drops fraud investigation into Milei over crypto scandal
A federal judge ruled that Javier Milei's promotion of a meme coin did not constitute a criminal offence, closing a politically explosive fraud probe into the Argentine president.
An Argentinian federal judge has dropped the criminal investigation into President Javier Milei over his promotion of a meme cryptocurrency, ending one of the most politically charged scandals of his presidency.
Judge Marcelo Martinez de Giorgi issued the decision on Friday, according to court records, ruling that "the reported events do not constitute a criminal offence." In his ruling, the judge acknowledged that Milei's standing as president could have given the token's launch extra weight, but found that his role did not amount to a fraudulent scheme, Al Jazeera reported.
Milei had recommended the little-known meme coin in a post on X in February 2025, which he later deleted. The coin soared in value and then crashed, prompting accusations that the president had misled investors. The judge also dismissed the parallel investigation into US businessman Hayden Davis, who had described himself as a central figure behind the token's launch.
Milei welcomed the ruling, saying no president of the nation had ever been investigated with such complete freedom, and asked who would take responsibility for what he described as wasted Argentine taxpayers' money spent on the probe.
When the coin collapsed, Milei had said he acted "in good faith" and accused his political rivals of exploiting the episode for their own benefit.
The development comes as Milei's fortunes are closely watched in Washington. The libertarian leader is one of US President Donald Trump's closest allies: Trump backed him a year ago and made clear that continued support hinged on victories for Milei's party. "I'm with this man because his philosophy is correct," Trump said ahead of a White House lunch with the Argentine president. Earlier this month, Milei urged Trump to emerge stronger from the US midterm elections, saying the vote mattered for the West as a whole.
At home, Milei's austerity drive has laid off thousands of state employees, shut ministries and cut subsidies and government-funded programmes. Milei says the plan is working, claiming Argentina has grown for 27 consecutive months.
Source: Al Jazeera English — TrendWire reports stories in its own words; facts should be confirmed against the original source.