Argentine Lawyer Seeks Interpol Red Notice for LIBRA Creator

Highlights:

• A lawyer is seeking to have Interpol arrest Davis over the LIBRA token scandal.
• The LIBRA token crashed and left investors in losses after creators sold holdings.
• Authorities are investigating the collapse and are planning to freeze $110 million.

Gregorio Dalbon, a lawyer in Argentina, has requested an Interpol Red Notice for the arrest of LIBRA creator Hayden Davis. The collapse of the token has caused political controversy in the country. Dalbon presented the request to prosecutor Eduardo Taiano and Judge María Servini for review. The prosecutor is investigating the role of President Javier Milei in the collapse.

Dalbon argues that Davis is at flight risk because he has the resources needed to leave the country or disappear. Documents from court proceedings show that Davis played a major role in building LIBRA, which elevates his potential risk of running away from the country. Dalbon argues that the impact of the LIBRA collapse and the financial losses that investors incurred are enough reasons to keep Davis around for court proceedings.

Dalbon has previously represented former Argentine President Cristina Fernández de Kirchner in a corruption case. His petition demands that Davis should be arrested and extradited to Argentina. Authorities are investigating Davis for fraud and financial crimes.

LIBRA Token’s Rise and Controversy

The LIBRA token debuted on February 14th and quickly became famous when President Milei promoted it on his X account. The token surged to over $4 billion in valuation because of the presidential endorsement. The creators of the coin later sold most of the tokens they had retained during the initial allocation.

In the days following the collapse, several lawyers filed fraud charges against Milei in an Argentine criminal court. Moreover, other lawyers reported him to local financial authorities and the U.S. Justice Department. Critics argue that the president’s public promotion of LIBRA was the main cause of the rise and subsequent crash, though Milei has denied any wrongdoing. President Milei claimed that he did not promote the coin but just shared the information about it.

Davis has maintained that he did not have any ill motive and has argued that the collapse of the token was not premeditated. He argues that the collapse occurred after the coin failed to meet its objectives. Davis told Youtuber Stephen Findeisen that he did not own the tokens, nor did he plan to profit from the situation during their interview.

However, reports later emerged that he had allegedly sent a text message boasting about being able to pay Milei’s sister, Karina Milei, to have the president promote the token on social media. Davis denied making any payments and claimed there was no evidence of the message on his phone.

Authorities Move Forward with Probe Against Davis

Prosecutor Taiano is seeking a court order to freeze approximately $110 million worth of assets. The assets are part of the ongoing proceedings. The approval of the request will lead Interpol to give the notice to the member nations under the body. The decision to execute the request depends on the established laws of each of the member countries.