Argentina's Nucleoeléctrica Cancels Corporate Travel Cards Amid Spending Scandal

In a move to address public outcry over alleged misuse of funds, Juan Martín Campos, president of the state-owned company Nucleoeléctrica Argentina, has ordered the discontinuation of corporate credit card use for travel. This decision comes in the wake of a report, included in the Cabinet Chief's management report, that exposed what were described as unjustified foreign expenditures by company authorities.

Campos stated that the previous system, in place since 2020, had become obsolete and that the new measure aims to "simplify, transparentize, and centralize the administration of resources for daily travel allowances abroad." The report detailed significant spending on non-business related items, including payments to nightclubs in Madrid, beach services in Valencia, purchases at hair salons, duty-free shops, clothing stores, hotels, and restaurants across various global locations. Over 400 cash advances totaling approximately $56 million were also noted.

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I have ordered to modify this scheme that has become obsolete, discontinuing the use of corporate credit cards for travel, with the aim of simplifying, transparentizing, and centralizing the administration of resources for daily travel allowances abroad.

These expenditures occurred between March 2025 and February 2026, a period largely overlapping with the leadership of Demian Reidel, a former advisor to President Javier Milei. While Reidel has denied personal use of corporate cards and called for a thorough investigation, Campos indicated that any expenses deemed unjustified would need to be reimbursed, though it remains unclear if the identified expenditures have been repaid. The controversy highlights a broader concern in Argentina regarding the transparency and accountability of public funds, particularly when linked to high-ranking officials and state-owned enterprises.

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The corporate card system, in place since 2020, was used mainly to pay the daily allowance to agents performing duties related to work trips abroad, as well as for representation expenses linked to management functions.