The businessman came under scrutiny again after the Central Bank closed an investigation linked to operations worth over US$250 million and sent its conclusions to the economic criminal justice system
Martín Migueles, a businessman romantically linked to Wanda Nara, faces a new judicial chapter after the Central Bank of the Argentine Republic (BCRA) concluded an administrative investigation related to Arg Exchange, the exchange house he presided over and which had Elías Piccirillo as the majority shareholder.
The agency determined that the firm sold more than US$250 million to other entities during the period of currency restrictions and elevated its conclusions to the economic criminal court for Justice to investigate the operations and determine any potential responsibilities.
The situation also had repercussions in the entertainment world. Wanda Nara was asked by journalist Karina Iavícoli about the case involving Migueles, and her reaction generated controversy. Shortly after, the topic was addressed on SQP, where Yanina Latorre reviewed some of the known details of the investigation.
“Let’s keep it short: he had a partnership with Piccirillo, who was the owner, and Migueles was the president,” the host explained while referring to Arg Exchange.
Why Martín Migueles is being investigated
Migueles was already listed as president of Arg Exchange when, in 2022, Piccirillo acquired 90% of the company's shares. During 2023, the firm recorded purchases of US$251,933,029 and subsequently sold a similar amount, according to records accessed by LA NACION.
The Central Bank investigated those operations and concluded a summary against the firm. According to information released this week, the agency established that Arg Exchange sold more than US$250 million to other entities that allegedly failed to justify the origin of the funds used in those operations. Based on these elements, the case was referred to the economic criminal court.
Martín Migueles and Wanda Nara
On SQP, Latorre referred to the amount involved and emphasized the seriousness that, in her view, the progress of the case has: “The Central is filing criminal charges for this purchase of dollars at the official price. So, it goes from the economic court to the criminal court. 250 million dollars!”
The investigation into the currency exchange circuit did not start now. Justice had already been tracking the movements of various exchange houses linked to Piccirillo, Migueles, and other businessmen to reconstruct the flow of large amounts of dollars withdrawn during 2023. In August, prosecutor Franco Picardi was awaiting information from the BCRA to advance on the traceability of those currencies.
