Lawyer Gregorio Dalbón has filed a petition with Argentine courts, requesting an international arrest warrant for Hayden Davis, the CEO of Kelsier Ventures and a key figure behind the launch of the $LIBRA token.
According to a recent report from Página/12, one of Argentina’s leading newspapers, Dalbón accuses Davis of conducting a mega-fraud related to the $LIBRA cryptocurrency. He argues that Davis could use his wealth to remain in hiding, thus obstructing the ongoing investigation.
The lawyer wants Interpol to circulate a Red Notice for Davis, which would alert law enforcement agencies around the world to his status as a wanted person in Argentina. This would facilitate Davis’s location and potential arrest, wherever he might be.
Pump And Dump Baby!
Dalbón thinks this is an important step that would allow for the extradition of Davis back to Argentina to face the charges that have been brought against him.
“His central role in the creation and promotion of the $LIBRA cryptocurrency, coupled with the international impact of the case, increases the likelihood that he will take steps to evade justice,” stated the document submitted to prosecutor Eduardo Taiano.
Since the collapse of the $LIBRA cryptocurrency, Davis has consistently claimed, through public statements, that the project’s demise was due to strategic missteps, not a calculated scheme to defraud investors.
Davis and his team allegedly used his connections with high-ranking Argentine government officials, including President Javier Milei and his sister, Karina Milei, to promote $LIBRA, only to defraud investors.
The cryptocurrency saw a dramatic surge after President Milei publicly endorsed it last month. However, he quickly withdrew support for the project, triggering an immediate crash.
On Monday, Davis said that he would appear before the Argentine justice system with new legal representation from Marcos Salt and Natalia Sergi.
The crypto entrepreneur maintains his innocence, claiming he “only wanted and sought the success of the $LIBRA currency.”
His company, Kelsier Ventures, previously disputed Argentine President Javier Milei’s claims of unfamiliarity with the project, stating that Milei “initially actively endorsed and promoted Libra Token” before unexpectedly withdrawing support.
Davis has retained Waymaker Law, a Los Angeles-based firm, with attorney Brian Klein leading his defense against potential civil litigation and criminal charges.
Multiple complaints have been filed in Argentine courts, including those from economist Claudio Lozano, lawyer Jonatan Baldiviezo, and various political figures.
Davis Accused of Cashing Out Over $1.6 Million from Crypto Funds
On-chain analyst “dethective” reported that Davis had cashed out more than $1.6 million from crypto funds associated with Libra and other projects.
Analysis revealed that wallets believed to belong to Davis unstaked $900,000 from Kamino Finance on March 6. The funds were then converted into USDC. An additional $741,000 was converted on Monday using funds from LIBRA and other “scams,” according to the analyst’s research.
Previously, Davis profited over $100 million from trading LIBRA with his firm Kelsier Ventures.
He and his team used “sniping” to withdraw approximately $100 million from Libra’s liquidity pool within minutes of its debut. After withdrawing the funds, they transferred them to wallets owned by Kelsier Ventures.
Davis claimed the withdrawals were intended to protect the token from collapsing due to market volatility and other “snipers.” He stated that he was just a custodian of the funds and denied any intention to run off with the money.
Despite his explanations, critics labeled the operation a pump-and-dump scheme. The token’s value plummeted 95% from its peak, sparking outrage among investors and legal scrutiny.
Argentine President Javier Milei has also denied any wrongdoing in connection with the LIBRA cryptocurrency scandal. He insisted in an interview post-scandal that his social post about LIBRA was shared in good faith and that he was not involved in the creation or development of the token.
Milei also said that investors were aware of the risks involved and acted voluntarily.
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