Argentine Cabinet Chief Manuel Adorni faces a deepening illicit-enrichment investigation after federal prosecutor Gerardo Pollicita confirmed on May 9 that more than 20 crypto exchanges, including Binance, Ripio, Lemon and Satoshi Tango, reported “entry-and-exit” movements in Bitcoin, Ethereum and USDT during 2024 that do not appear in his sworn asset declaration.
The crypto findings come on top of $349,640 in trips, renovations and property buys that lack bank trails or invoices, including $245,000 in cash paid to contractor MatĂas Tabar for an Indio Cuá country house.
Adorni’s declared 2024 net worth of 107.9 million pesos plus $42,500 in dollar savings is deemed insufficient for the lifestyle on a salary that rose by decree from 3.5 million to 7.1 million pesos a month, with President Javier Milei publicly backing Adorni and the government using Caputo’s SĂşper RIGI announcement to deflect attention.
Key Points
— More than 20 crypto exchanges (Binance, Ripio, Lemon, Satoshi Tango) reported BTC, ETH and USDT trades not declared to Anticorruption Office.
— $349,640 in trips, remodels and property purchases under investigation for source of funds.
— Contractor testified to receiving $245,000 in cash, no invoices, for country-house works.
— Adorni declared net worth of 107.9 million pesos in 2024, against the spending under scrutiny.
— Milei publicly defending Adorni; government using Súper RIGI rollout to redirect news cycle.
A Crypto Trail With No Tax-Return Match
The Rio Times, the Latin American financial news outlet, reports that prosecutor Gerardo Pollicita and judge Ariel Lijo requested data from more than 20 crypto exchanges and digital-payment platforms after lifting Adorni’s banking, fiscal and financial secrecy. The list extends from Binance, Ripio, Lemon and Satoshi Tango to Mercado Pago, Brubank and Personal Pay, with prosecutors requesting full account records, transaction logs and IP addresses tied to Adorni, his partner Bettina Angeletti and the firm MasBe in which both hold stakes. The first replies confirmed entry-and-exit movements with BTC, ETH and USDT during 2024 that Adorni did not list in his sworn asset declaration to the Anticorruption Office.
The total volume of crypto activity remains under judicial reserve as the fiscalĂa waits for the remaining wallets to respond, while Pollicita has also asked the Banco Central de la RepĂşblica Argentina (BCRA) for the complete history from January 1, 2022 onward of all Adorni’s bank accounts, financial products and credits. The crypto pillar adds to the existing thread on $349,640 in international travel, home renovations and real-estate purchases that the fiscalĂa considers disproportionate to Adorni’s ingresos as a public official.
The $349,640 Lifestyle Trail
The expenditure file extends from a $4,800 flight to Punta del Este, a $5,140 return ticket for Angeletti from New York and a $5,800 trip to Aruba with $8,900 in lodging, plus the $245,000 cash payment to contractor MatĂas Tabar for the Indio Cuá country house refacciones disclosed in his testimony. Tabar told the prosecutor the work, paid in dollar bills and without invoices, included pool refurbishment, a cascade, a quincho and carpentry, broken into installments of $55,000 in late 2024 and $30,000, $100,000, $30,000, $50,000 and $20,929 in 2025. A second declarante, Pablo MartĂn Feijoo, told the fiscalĂa the Caballito apartment registered at $230,000 carried a parallel $65,000 off-the-books payment.
Government Counter-Strategy
President Javier Milei has explicitly backed Adorni in cabinet meetings and public appearances, including a joint visit to a Mercedes-Benz auto plant in Zárate alongside his sister Karina Milei. The defense team, coordinated with Justice Minister Juan Bautista Mahiques and adviser Santiago Caputo, plans to release Adorni’s 2025 sworn declaration as the basis for justifying both the spending and the crypto activity. Caputo’s “SĂşper RIGI” announcement on May 8, alongside a planned $10 billion Chevron filing, fits a pattern of redirecting news flow to economic announcements while the corruption case unfolds.
| Item | Status |
|---|---|
| Total expenses (trips, remodels, properties) | $349,640 under investigation |
| Cash to contractor Tabar | $245,000 (no invoices) |
| Caballito apartment off-the-books | $65,000 parallel payment |
| Hipoteca privada (jubiladas + policĂas) | $300,000+ deudas declaradas |
| Crypto exchanges responding | 20+ (Binance, Ripio, Lemon, Satoshi Tango) |
| Crypto assets traded | BTC, ETH, USDT (2024) |
| Public-sector salary (Jan 2026) | 3.5M → 7.1M pesos by decree |
| Foreign trips under examination | 18 (Punta del Este, Aruba, NYC, others) |
Connected Coverage
For more on Argentina’s policy direction, see Caputo’s Super RIGI proposal that cuts the corporate tax rate to 15% and Argentina’s country risk near 500 basis points after the Fitch effect.
What Happens Next
- Coming weeks: FiscalĂa to consolidate crypto totals from remaining wallets and disclose final volume.
- BCRA window: Full banking history from 2022 expected to land in Comodoro Py.
- Late 2026: Adorni’s 2025 sworn declaration will be released as defense’s main exculpatory document.
Frequently Asked Questions
What did Argentine prosecutors detect in Adorni’s accounts?
Federal prosecutor Gerardo Pollicita, in coordination with judge Ariel Lijo, received reports from more than 20 crypto exchanges and digital-payment platforms (Binance, Ripio, Lemon, Satoshi Tango, Mercado Pago, Brubank, Personal Pay and others) showing entry-and-exit movements in Bitcoin, Ethereum and USDT made during 2024 by Cabinet Chief Manuel Adorni and his partner Bettina Angeletti. None of those crypto holdings appear in Adorni’s 2024 sworn asset declaration filed with the Anticorruption Office, despite a normative obligation to disclose digital-asset balances. The total volume of crypto activity remains under judicial reserve as additional wallet data continue to arrive at Comodoro Py.
What is the $349,640 figure?
The $349,640 figure represents cumulative spending on international travel, residential renovations and real-estate purchases over a year that Pollicita considers disproportionate to Adorni’s official salary and declared assets. Items include $4,800 for a Punta del Este flight, $5,140 for an Angeletti New York return ticket, $5,800 for an Aruba trip plus $8,900 in lodging, plus the $245,000 cash payment to contractor MatĂas Tabar for the Indio Cuá country house and a $65,000 off-the-books supplement to the Caballito apartment registered at $230,000.
How is the Milei government responding?
President Javier Milei publicly backed Adorni at a joint Mercedes-Benz factory event in Zárate alongside his sister Karina Milei and joined him at a cabinet meeting after the latest revelations, signaling Adorni will not be removed. The defense team, working with Justice Minister Juan Bautista Mahiques and adviser Santiago Caputo, plans to release the 2025 sworn declaration as the central exculpatory document. The government has leaned on Economy Minister Luis Caputo’s SĂşper RIGI investment regime and the $10 billion Chevron Vaca Muerta filing to redirect news coverage, while officials concede privately that Adorni continues to dominate the agenda.
What does Adorni say in his defense?
Adorni rejects the figures provided by contractor Tabar, contending the values stated do not reflect actual transactions, and insists his “papers are in order.” He told reporters the matter will be clarified once his 2025 sworn asset declaration is published, which his team views as resolving both the spending discrepancies and the absence of crypto declarations. His Cabinet Chief salary was raised by decree from 3.5 million pesos to 7.1 million pesos in January 2026, an amount the fiscalĂa considers insufficient to fund $349,640 in spending plus the crypto activity, and deputy nacional Marcela Pagano has called for his arrest.
Updated: 2026-05-10T15:00:00Z by Rio Times Editorial Desk