Investigations into this matter are being carried out by a coalition of entities, including the Ministry of Economy, the National Securities Commission and the Central Bank.
He Ministry of Economy decided to take action against a number of individuals allegedly involved in irregular practices in it financial market in the days before choices STEP. According to the portfolio, monotributistas, self-employed and executives linked to stock companies have been carrying out speculative operations related to the MEP dollarwith the apparent intention of artificially increasing the value of the quotes.
Investigations into this matter are being carried out by a coalition of entities, including the Ministry of Economy, the National Securities Commission, the Central Bank, the Federal Police and the Financial Information Unit (FIU). In recent meetings, strategies to address these activities have been discussed in detail and formal complaints have been prepared, as well as an action plan for the coming week. This plan will include searches and measures to prevent suspects from leaving the country while the investigation is underway.
The main focus of the complaints falls on 38 individuals who have registered as monotributistas, self-employed and executives linked to stock companies. Parallel to these actions, criminal complaints expected before the Court in the field of Economic Crimes. Potential charges include tax evasion and money laundering. According to the authorities, these actions are part of a network organized with the purpose of acquiring dollars through the dollar MEP, offered at reduced prices by the Central Bank. In the financial community, these individuals have been informally nicknamed “the dollar mules“, and the leaders who are presumably orchestrating these operations have been identified.
It has been discovered that some of those involved have made substantial purchases of dollars in the stock market, despite not having the adequate financial means to do so. Surprisingly, several of these individuals are registered as monotributistas in the lowest category. Raids have already been carried out against some of those involved and the companies associated with them.
As reported by the ministry in charge of Sergio Massa, this week, hard work will continue with the aim of completely dismantling these networks. It has been observed that there have been purchases for amounts over US$10 million by individuals who have barely declared income or wealth.
Investigations have also identified the main instigators, those responsible for recruit people to participate in these illicit operations. In addition to the individuals who have been caught making million-dollar purchases without adequate financial means, executives linked to alycs who do not have the necessary authorization to operate in the market of MEP dollar.
The regulation clearly states that in such situations should close the day with a neutral position in dollars, that is, without holding a buy position. Some well-known names in the local financial sphere appear to have broken this rule and are now facing legal charges.
Source: Ambito
