A lawsuit has been filed against one of the main contenders for the presidency of Argentina, Javier Miley. A group of investors claims that he was involved in promoting the CoinX cryptocurrency pyramid.
Last year, the eccentric Javier Milei posted on Instagram promoting the cryptocurrency investment platform CoinX. The company promised users huge returns on investment, claiming to use artificial intelligence, bots, and experienced traders to automate trades and make money. In December, Miley visited the CoinX office in Buenos Aires and afterwards stated on Instagram:
“They are revolutionizing the way they invest to help Argentines deal with inflation. Now you can make your investments in pesos, dollars or cryptocurrencies and make a profit,” he said.
In June, CoinX shut down after Argentina’s National Securities Commission (CNV) warned that the platform was not legally allowed to operate in the country and ordered it to cease operations. According to local media reports, CoinX did not return investors either their initial investment or the reported profit. A group of CoinX investors who lost money in an alleged Ponzi scheme have filed a lawsuit against the top candidate for the presidency of Argentina.
According to a statement filed by lawyer Juan Pablo Chiesa (Juan Pablo Chiesa), investors took Miley’s statement as advice. As a result, each CoinX investor lost from 30 to 40 million pesos (almost $300,000). Once the platform was shut down, Miley distanced himself from the project, stating that he was not cheating anyone and was not being paid to promote CoinX.
Javier Miley, a 51-year-old Bitcoin economist, once called the Central Bank a “scam.” The congressman said he intends to save Argentina, which is suffering from one of the highest inflation rates in the world. Miley is one of the top three contenders for the presidency. However, the appearance of his name in Instagram posts next to alleged fraudulent projects is unlikely to add to his popularity in the elections.
Recall that in June, American Keith Johnson sued Elon Musk for promoting Dogecoin. He stated that he was deceived, and demanded damages in the amount of $258 billion.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
