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Federal Court Orders Higher Embargoes and Faster Probe in $LIBRA Crypto Case

The appeals panel deemed current asset restraints insufficient, warning that investigative delays risk turning provisional measures into punishment.

Overview

  • Sala I upheld replacing an earlier total asset freeze with preventive embargoes and directed the trial judge to recalibrate or increase them before lifting any restraints.
  • Judge Marcelo Martínez de Giorgi was instructed to speed up evidence production to clarify defendants’ status and protect the chance of recovering assets.
  • The court confirmed embargoes of 36,875,000 pesos for several defendants and ordered individualized reassessment within 90 days for scope and amount.
  • New prospective plaintiffs report losses near US$2 million, a development the judges said could render current embargo levels disproportionate.
  • Those under measures include Hayden Mark Davis, Mauricio Novelli, Manuel Terrones Godoy, Sergio Morales and Novelli’s relatives, and the case file includes a complaint over President Javier Milei’s February 2025 promotion of the token.