Christina Fernandez, the former President of Argentina, defrauded her country out of $5.2 billion and is facing prison for up to 20 years.
The politician has dodged many bullets throughout her 8 long years in the presidency position, but it’s all about to change now.
The former President left the office back in December 2015 and ever since then she has been the main person of interest in an on-going investigation regarding a $5.2 billion fraudulent scheme. As it turns out, the government was selling American dollars below their market value in order to keep the Argentinian peso’s value market artificially inflated. Thus, tons of buyers have made tremendous profits on various transactions and sales in the Central Bank reserves have suffered a sharp and significant drop. According to official reports, the scheme, which has led to these consequences, has been authorized by the former President. Apart from Fernandez, a number of other officials have also been involved in the fraud. The former Central Bank President Alejandro Vanoli and the former Economy Minister Axel Kicillof are among the alleged schemers.
The former Argentinian President was charged with defrauding her own country earlier this May. The local media stated that she’s facing a sentence of up to 20 years behind bars for defrauding the government out of nearly $5.2 billion thanks to the scheme in question. On top of that, it has been reported that the authorities are investigating her on accusations related to other illegal enrichment activities and money laundering. The reports also state that Fernandez has denied being part of any wrong-doing and is claiming that she’s a victim of a framing political prosecution against her. The Argentinian jury has ruled out that she still has a chance of appealing the convict.