Argentine Judge Dismisses Criminal Case Against President Javier Milei

The ruling, finalized on October 23, effectively closes a high-profile investigation that scrutinized the promotional activities of the Milei siblings, Karina and Javier, alongside U.S. businessman Hayden Davis. According to documents reviewed by local media, investigators found no evidence of specific false statements intended to defraud buyers. Despite the collapse of the Solana-based token, the court accepted the prosecutor’s argument that the price rally and later decline were insufficient to establish criminal liability.

The investigation faced significant hurdles, including incomplete evidence-gathering and a lack of cooperation from international authorities. Fact-checking reports noted that investigators could not confirm the contents of launch-day communications between the President and associate Mauricio Novelli, nor could they prove that proposed commission agreements recovered from digital devices were ever executed. While opposition lawmakers like Maximiliano Ferraro have criticized the speed of the closure and the lack of formal questioning, the judicial resolution stands.

This decision mirrors a separate legal outcome in the United States, where a New York court dismissed a class-action lawsuit involving the same project in September. That case, presided over by Judge Jennifer L. Rochon, rejected claims against former Meteora CEO Benjamin Chow and other defendants for failure to state a claim. In Argentina, although private complainants were excluded from the proceedings, challenges regarding their participation remain pending before the Federal Criminal Cassation Court.