DistantNews
Support us
🇦🇷 Argentina /Elections & Politics

Federal court confirms dismissal of Luis Caputo case over undeclared income from bond-buying company

From Clarín · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Documents & data Outcome reported
  • Argentina’s Federal Chamber in Comodoro Py upheld the dismissal of Economy Minister Luis Caputo in a case involving undeclared income from a company that bought government bonds.
  • The court said it found no evidence that Caputo acted deliberately against the public administration and saw no need for further evidence-gathering.
  • The case originated with the Paradise Papers and concerned Caputo’s links to Noctua Partners and payments of $18,944 between 2016 and 2017.

Argentina’s Federal Chamber in Comodoro Py has confirmed the dismissal of Economy Minister Luis Caputo in a case over income he allegedly failed to include in his public financial disclosure.

The case concerned events dating to 2015, when Caputo served as finance minister under President Mauricio Macri. Princess International Group bought $494,702.56 in Argentine government bonds while the company invoiced Caputo $18,944 between March 2016 and April 2017. He had not reported the income.

Judges Mariano Llorens and Pablo Bertuzzi upheld the dismissal. “No deliberate criminal conduct by the reported public official to the detriment of the public administration can be observed,” they wrote in a ruling obtained by Clarín. The judges also said further evidentiary measures were not relevant and that closing the investigation and permanently removing Caputo from the case was appropriate.

The case became public through the international Paradise Papers investigation, which exposed information from the offshore law firms Appleby and Asiaciti Trust. Kirchnerist lawmakers filed a criminal complaint in 2017.

When Caputo became finance secretary in 2015, he did not list his participation in Noctua Partners LLC, a Miami-based investment fund manager, through Alto Global Master Fund LP. Caputo served as portfolio manager of that company. Princess International Group, a Noctua shareholder, later bought the government bonds.

Prosecutors argued that Caputo participated in issuing the bonds while simultaneously billing Noctua for financial advice through L.C., creating a benefit for the company ultimately controlled by his brother, Flavio Caputo. Caputo said he had no ties to the companies after entering public office and denied preferential treatment in the bond purchase. Federal judge Julián Ercolini had dismissed the case in December of the previous year.

No deliberate criminal conduct by the reported public official to the detriment of the public administration can be observed.

· Mariano Llorens and Pablo BertuzziThe Federal Chamber judges explained why they upheld the dismissal of the case against Caputo.
About this summary

Originally published by Clarín in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog