An Argentine federal judge has dismissed the LIBRA criminal case against President Javier Milei and 10 other people, finding the investigated conduct was not a criminal offense. The ruling follows a September dismissal of a related New York investor class action.
An Argentine federal judge dismissed the LIBRA criminal case against President Javier Milei and 10 other people on Oct. 23, ruling that the investigated conduct did not constitute a criminal offense.
Judge Marcelo Martínez de Giorgi, who heads Federal Criminal and Correctional Court No. 8, accepted prosecutor Eduardo Taiano's request to dismiss the case. The order also covers Milei's sister Karina, Hayden Davis, Julian Peh and Mauricio Novelli, and directs that the proceedings be archived once the decision becomes final.
Why the judge found no fraud
The investigation examined the launch and promotion of LIBRA, a Solana token Milei publicized on X on Feb. 14, 2025. Its price surged and then collapsed, prompting complaints alleging fraud and corruption. Crypto Briefing reported investor losses of around $251 million.
The judge found that Milei's promotion, the token's price increase and its collapse did not, by themselves, establish criminal fraud. The court said the evidence did not establish a legally relevant deception that caused investors to part with their money.
On the public-office allegations, the court found no official act connected to the project sufficient to establish abuse of authority. It also found the evidence did not substantiate an illicit exchange involving Karina Milei receiving compensation to exercise influence over a public official.
The US case ended earlier
The Argentine ruling follows a separate dismissal in the United States. In a Sept. 29 opinion, U.S. District Judge Jennifer L. Rochon dismissed the investor complaint with prejudice against Kelsier Labs, members of the Davis family, Benjamin Chow and Meteora.
Earlier, Rochon's Aug. 19, 2025 order dissolved the temporary restraining order tied to roughly $58 million in frozen assets. The Argentine ruling does not order a distribution of those assets to investors.
Sources: The Defiant, Crypto Briefing
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