Allegations Against President Javier Mile
The final report from the Investigative Committee of the Argentine Congress has brought serious allegations against President Javier Mile, suggesting that he played a pivotal role during the debacle surrounding the LIBRA token’s collapse. The report points out significant concerns over Mile’s prior endorsement of the LIBRA token through his social media channels, which coincided with a controversial event where eight wallets linked to the LIBRA team executed a cash-out of $107 million, leading to substantial losses impacting over 114,000 investors.
Promotion of KIP Protocol
In addition to his involvement with LIBRA, the committee’s findings highlight Mile’s promotion of another cryptocurrency, the KIP Protocol. This particular project also faced significant issues when its liquidity pool was abruptly depleted shortly after launching in December 2024. Such actions have led the committee to conclude that there appears to be an intent on Mile’s part, perhaps in collusion with others, to sidestep regulatory oversight typically enforced by the National Securities Commission (CNV).
Legal Scrutiny and Denials
As the investigations evolve, both Mile and American entrepreneur Hayden Davis, along with other founders, are currently subjected to judicial scrutiny in Argentina. Furthermore, they are contending with a class-action lawsuit initiated by Burwick Law in New York. Despite these developments, President Mile has firmly denied any allegations of misconduct.
Disbanding of Investigative Team
Additionally, he has disbanded a special investigative team that had been appointed under his directive in May to probe these matters. Compounding his legal troubles, a judicial order previously mandated the Bank of Argentina to unfreeze the bank accounts of President Mile and his sister, Carina Mile.
