Overview

• Federal prosecutors Rafael Vehils Ruiz and María Delicia Correa filed on July 23 a petition to send Bacchiani and 11 co-defendants to trial on charges of unauthorized financial intermediation, money laundering, Ponzi fraud and illicit association.
• Investigators determined that Adhemar Capital SRL operated without CNV or BCRA registration while guaranteeing investors 10–20% monthly returns through crypto and FOREX trades.
• A BCRA GFANA audit revealed that only a fraction of funds purchased cryptocurrencies, with most investor money redirected to pay earlier participants in a classic pyramid structure.
• Prosecutors allege the network laundered illicit proceeds by forming front companies like Calentitas, The Traders and Il Nuovo and using the funds to acquire luxury vehicles and multiple real estate properties.
• More than 100 investors across Catamarca, Tucumán and Córdoba have filed complaints, marking this as one of the province’s largest judicial inquiries as the court prepares to schedule trial proceedings.