Dark day for Peronism in Argentina: Former President Alberto Fernández accused in insurance scandal, Cristina Kirchner returns to court for money laundering

In Argentina, it is practically tradition for a former president to head to court when their term is up, and Alberto Fernández was no exception. Javier Milei's predecessor was charged in a case for violation of the duties of a public official, abuse of authority and embezzlement of public funds. Hours later, a harsh judicial blow was announced for Cristina Kirchner for her alleged involvement in a money laundering scandal.

Regarding the first case, the former president, along with Héctor Martínez Sosa, an insurance broker, and Alberto Pagliano, former head of Nación Seguros, were accused by prosecutor Ramiro González. The case regards decree 823/21 signed by Fernández, which required that all insurance contracted by public entities had to be channeled through Nación Seguros.

The complaint was made by lawyer Silvina Martínez in Court 11, momentarily headed by Federal Judge Julián Ercolini. Specifically, Fernández is accused of violating his duties as a public official, abuse of authority and misappropriation of public funds.

According to the complaint, there was "a business of 20 billion pesos (roughly $24 million) annually and 300 million ($35 million) in monthly commissions with insurance and intermediary commissions." Martínez also claims that "the 20 billion pesos is what Anses pays to Nación Seguros per year to insure the lives of retirees and pensioners to whom it gives loans: since 2011 it has been granting them without this insurance."

“In turn, Nación subcontracted other insurers and, as a bridge between the two state organizations, to a broker, with a commission three times higher than the market: 17%. About 300 million pesos monthly. There, Pablo Torres García appears as an intermediary, a businessman and financial broker who would have charged a commission several times higher than the market. And another broker, Héctor Martínez Sosa, married to a secretary of Alberto Fernández, María Cantero,” he added.

'K money trail': A headache for Cristina Kirchner

For Kirchner, she has been pursued for several years as part of a large network of corruption during her time as president.

Although prosecutor Guillermo Marijuan had requested Kirchner's dismissal in 2023, which was granted at the time by Judge Sebastián Casanello, the Federal Chamber later revoked the decision.

On this occasion, the news is that the Cassation Chamber (the highest criminal court in the country below the Supreme Court) made firm that ruling that revoked the dismissal of Cristina Kirchner in the 'K money trail' case, for which businessman Lazaro Baez had already been sentenced to 10 years in prison for money laundering.