Judicial Rejection of Access Request
On Monday, November 3, 2025, the Argentine Justice system, through Federal Judge Marcelo Martínez De Giorgi, denied a request from the Chamber of Deputies' Investigating Commission on the $LIBRA Cryptocurrency to access a penal file. The commission, presided over by Deputy Maximiliano Ferraro, sought 'irrestricto' access to the judicial proceedings related to the alleged fraud involving the $LIBRA cryptocurrency.
Reasons for the Denial
Judge Martínez De Giorgi based his decision on Article 204 of the National Criminal Procedure Code, which stipulates that judicial summaries are public only for the parties involved and their defenders, remaining 'siempre secreto para los extraños' (always secret for outsiders). The judge emphasized that granting unrestricted access to the legislative commission could 'frustrar u obstruir el éxito de la investigación' (frustrate or obstruct the success of the investigation), as there are multiple evidentiary measures currently underway that require special reservation.
The decision was supported by Fiscal Eduardo Taiano, who is leading the investigation. Taiano concurred that the investigation is public exclusively for the involved parties and that any disclosure could impede the ongoing probe. The defense of some of the accused also opposed the request, arguing that publicizing the process through the commission's public hearings would transform a reserved penal process into an 'absolutamente público' (absolutely public) one, potentially affecting the division of powers and due process guarantees.
The $LIBRA Cryptocurrency Case
The penal file in question pertains to an investigation into alleged fraud related to the launch and promotion of the $LIBRA cryptocurrency. Among those being investigated are President Javier Milei, his sister and Secretary General of the Presidency, Karina Milei, along with Mauricio Novelli, Manuel Terrones Godoy, Julian Peh, Hayden Mark Davis, and Sergio Morales. The investigation centers on whether any crime was committed during the cryptocurrency's launch, particularly after a tweet by President Milei in February, which reportedly caused the price of $LIBRA to surge from 0.01 to 5 dollars in a few hours before a sudden collapse.
Related Judicial Decisions
In the same resolution, Judge Martínez De Giorgi also rejected a request for the detention of Mauricio Novelli and Manuel Terrones Godoy, two businessmen implicated in the $LIBRA case. Despite claims of flight risk due to foreign passports and alleged attempts to obstruct the investigation, the judge determined that there were no sufficient procedural risks to warrant their detention. Both individuals remain subject to precautionary measures, including the freezing of their assets.
5 Comments
ZmeeLove
The judge's reliance on Article 204 is legally sound for procedural integrity. However, the public interest in a case potentially involving the President's family means transparency should be a priority once it won't jeopardize the probe.
Comandante
While judicial secrecy is important to protect ongoing investigations, it's concerning when it involves high-profile political figures. Striking a balance between secrecy and public oversight is crucial for trust.
ZmeeLove
It's understandable that the defense wants to avoid a public spectacle that could prejudice the accused. But considering the scale of the alleged $LIBRA fraud and who is implicated, the lack of transparency is a hard pill to swallow for many.
eliphas
So much for accountability. The judiciary is clearly shielding the executive.
paracelsus
Good! The judiciary needs to be independent. No political meddling.