Report: Argentina's Javier Milei to Be Investigated by the FBI on Libra's Scandal

2025-02-18 13:34:31

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Libra’s downfall, a cryptocurrency project that Argentine President Javier Milei posted on social media, is now the subject of an Federal Bureau of Investigation (FBI) probe. The complaint seeks to ascertain the role of Milei, Kip Protocol, and Kelsen Ventures in Libra’s launch.

Argentine President Javier Milei Targeted in FBI Probe on Libra

The Federal Bureau of Investigation (FBI) might probe Javier Milei and his involvement with Libra, the failed cryptocurrency project. According to local media, the FBI would be targeting Javier Milei and other known actors who facilitated the launch of Libra, which was advertised as focused on helping Argentine companies obtain funding.

Libra, which could have affected over 44,000 people, was allegedly created by three different parties: Mauricio Novelli and Manuel Terrones Godoy, two Argentine entrepreneurs linked to Tech Forum Argentina, Kip Protocol, and Kelsen Ventures, represented by Hayden Mark Davis.

Mariano Moyano Rodríguez, an attorney who filed a complaint in the name of over 2,500 affected by Libra, called the bureau to probe the involvement of Milei in this affair, given that he posted info related to the project using his social media accounts. In his complaint, Moyano Rodriguez highlighted that this is not the first time Milei has promoted crypto companies that have scammed their customers and users.

In the same way, the complaint warns about the lack of registration of one of these companies – Kelsen Ventures – with the Securities and Exchange Commission (SEC). Moyano Rodriguez stressed the operation lacked basic compliance operative guidelines, including know-your-customer (KYC) procedures and anti-money laundering (AML) measures, potentially affecting U.S. investors.

In a TV interview, Milei recently washed his hands on the subject, declaring that he had just shared a project post instead of endorsing it. He also likened investments in Libra to gambling, comparing the scheme to a casino. “They knew very well the risk they were taking. If you go to the casino and lose money, it’s your problem,” he noted.

Read more: Javier Milei Denies Responsibility in Libra Debacle: ‘If You Go to the Casino and Lose Money, That’s Your Problem’

Milei’s administration is also being probed in Argentina for promoting Libra as an entrepreneur funding instrument.

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