#MileiMemeCoinControversy Argentine President Javier Milei is now facing fraud charges related to his meme coin cryptocurrency project $LIBRA. The project crashed in a short period of time, allegedly as a “rug pull,” where investors lost most of their funds. On Friday, Milei promoted $LIBRA through his account X (formerly Twitter), attracting the attention of many investors.

However, hours later, he deleted the post, causing the coin’s price to plummet and leaving investors with huge losses. The fraud charges were filed by lawyers Jonatan Baldiviezo, Marcos Zelaya, María Eva Koutsovitis, and Claudio Lozano, who allege that Milei played a central role in manipulating the public and causing harm to many people.

According to the lawyers, Milei’s actions in promoting and then removing $LIBRA in a short period of time violated the law, including Argentina’s Public Ethics Law. Milei is considered to have used his position to benefit the failed project, which ultimately harmed many parties.

Milei’s Actions and the $LIBRA ControversyMilei, who initially posted his support for the $LIBRA project, claimed that he was unaware of the details of the project. After getting more information, he decided to delete his tweet to prevent further speculation. However, documents and online records show that Milei and several of his administration officials met with representatives of KIP Protocol, the team developing $LIBRA, prior to its launch.

This adds to the suspicion that the Argentine President may have been more involved in the project than he was admitting. The fraud allegations are high-profile, not only because of the president’s involvement in cryptocurrency, but also because of the huge impact that withdrawing support for a newly launched project would have.