Argentine Official Accused of Failing to Declare U.S. Properties

Revelations have surfaced concerning Carlos Frugoni, the Secretary of Infrastructure Coordination at Argentina's Ministry of Economy, who appears to have circumvented declaration laws by failing to report significant property holdings in the United States. Investigations by LA NACION, corroborated by A24, indicate that Frugoni possesses at least five properties in Florida, with potential additional holdings bringing the total to eight.

These assets were allegedly acquired and managed through two opaque Delaware-based companies, Genova LLC and Waki LLC, established in 2021 and 2025 respectively. This structure raises serious questions about the origin of the funds and the intent behind using such jurisdictions, which are known for their secrecy. Frugoni, a key figure in infrastructure under Minister Luis Caputo and President Javier Milei, has previously faced public scrutiny during the Mauricio Macri administration.

The undeclared properties, primarily located in Palm Beach County, Florida, have official valuations between $140,000 and $310,000. One property's listed postal address notably points to the Newman club in Benavídez, Buenos Aires, where Frugoni is an alumnus and former employee. This intricate web of undeclared assets abroad casts a shadow on Frugoni's public service and raises concerns about financial transparency within the current administration.