The National Bank of Argentina. Photo: AFP.
A criminal complaint filed with Argentina’s Justice has exposed an alleged corruption scheme involving preferential mortgage loans to members of Javier Milei’s Government and Liberty Advances legislators.
In the midst of complaints about alleged preferential credit lines from Argentina’s National Bank for Government officials and legislators, two new criminal complaints were filed on the subject. The cases were filed in various federal courts and point to possible crimes such as fraud against the public administration, abuse of authority and violation of duties of a public official.
Among those reported are former bank officials and officials who agreed to large loans, in some cases amounting to hundreds of thousands of dollars, which reinforces the seriousness of the case.
The judicial filing points to irregular maneuvers in the granting of nearly 400 million pesos (over 285,000 dollars) in credits specifically intended for high-ranking officials, raising serious questions about the integrity of public financial management.
Lawyer Alejandro Díaz Pascual formally presented the accusation, citing alleged crimes of fraudulent administration, abuse of authority, and incompatible negotiations.
The complaint directly names Daniel Tillard, former president of the National Bank (BNA), and Juan Curuchet, former supervisor of the Central Bank, as the principal individuals responsible for facilitating these questionable transactions.
This formal accusation initiates a significant legal process that aims to thoroughly investigate the extent of the alleged malpractices within the state-owned banking institution, particularly concerning the allocation of public funds under preferential conditions.
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The text reads: “A new criminal complaint against National Bank loans to officials complicates the Central Bank. The presentation made this Monday focuses on a delicate situation: at the time that Federico Furiase and Pedro Inchausti received the millionaire loans, they were directors of the Central Bank, which is in charge of supervising banks like the Nation.”
Investigation Details Unfold
The judicial document meticulously details that bank authorities allegedly authorized these financial operations without adhering to established technical criteria for risk assessment.
These loans were reportedly granted under preferential market conditions, often lacking sufficient guarantees and without verifiable proof of repayment capacity. Such actions, as outlined in the complaint, represent a direct and substantial detriment to public assets, indicating a severe breach of fiduciary duty and responsible financial governance within a state institution. The practices described suggest a deliberate circumventing of standard banking procedures, potentially at the expense of national financial stability.
Under Corruption Involved
The ongoing investigation has identified a clear pattern of arbitrary decisions that purportedly favored key figures within the President Javier Milei’s circle.
Among the direct beneficiaries identified is Felipe Núñez, an advisor to Economy Minister Luis Caputo and director of the Bank of Investment and Foreign Trade (BICE). Núñez reportedly received 373 million pesos, approximately 350,000 dollars, in February 2025. Furthermore, the complaint names Federico Furiase, the current Secretary of Finance, who allegedly obtained a mortgage loan of 367 million pesos, nearly 276,000 dollars, in August 2025, a period during which he served as a director of the Central Bank.
The list of beneficiaries extends to include Emiliano Mongilardi, a member of the board of the state-owned oil company YPF, who reportedly secured financing of 302 million pesos, approximately 211,000 dollars, in October 2025. Finally, Juan Pablo Carreira, associated with the Government’s Official Response Office, received a credit for 112 million pesos, equivalent to about 77,000 dollars, in December of the same year.
This comprehensive detailing of individuals and amounts paints a troubling picture of systemic favoritism in the allocation of state financial resources.
The mechanism of financing under scrutiny reportedly operated through the approval of loans without adequate credit analysis and the deliberate omission of essential internal controls. The complaint strongly emphasizes the existence of direct links between the beneficiaries of these loans and the senior bank directors who authorized their files. This interconnectedness raises significant concerns about potential conflicts of interest and a lack of transparency in the decision-making processes, suggesting a coordinated effort to misuse public financial institutions for private gain.
In response to inquiries regarding the case, spokespersons for the National Bank have confirmed that they will make the appropriate judicial presentations. The unfolding scandal gains particular prominence within a national context marked by severe economic adjustment, where the discretionary management of state resources by the Liberty Advances far-right administration is now subject to intense public and judicial scrutiny.
This revelation of million-dollar credits being granted to officials occurs at a critical juncture for the Argentinean economy.
For the first time in two decades, the balance of Foreign Direct Investment (FDI) has registered a negative figure, according to data released by the Central Bank (BCRA). This broader economic instability further amplifies the gravity of the alleged corruption scheme, as it suggests a mismanagement of public funds at a time when financial prudence and integrity are more vital than ever for the nation’s stability and development.
The National Bank is the main financial tool of the Argentinean State and should be oriented to guarantee access to credit for workers, medium and small enterprises and popular sectors. But the scandal reveals a reverse logic: as credit becomes increasingly inaccessible to the majority – in a context of adjustment policies and declining purchasing power- sectors of political power gain access to funding worth millions.
(Telesur) by Laura V. Mor
