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The Americas

Argentina's Fernandez charged with state fraud

Associated Press
Published | Updated
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    FILE - In this April 11, 2016 file photo, Argentina's former President Cristina Fernandez arrives at the airport in El Calafate, Argentina, as she travels to the capital to face questions about her government's handling of the futures dollar market. A judge in Argentina is charging Fernandez with defrauding the State as part of her government's handling of the futures dollar market. Federal judge Claudio Bonadio said Friday, May 13, 2016 that a scheme to keep the Argentine peso inflated by selling derivatives below market value would not have been possible without Fernandez's approval. The crime is punished with 5 to20 years in prison. (AP Photo/Francisco Munoz, File) (The Associated Press)

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    FILE - In this April 11, 2016 file photo, Argentina's former President Cristina Fernandez arrives at the airport in El Calafate, Argentina, as she travels to the capital to face questions about her government's handling of the futures dollar market. A judge in Argentina is charging Fernandez with defrauding the State as part of her government's handling of the futures dollar market. Federal judge Claudio Bonadio said Friday, May 13, 2016 that a scheme to keep the Argentine peso inflated by selling derivatives below market value would not have been possible without Fernandez's approval. The crime is punished with 5 to20 years in prison. (AP Photo/Francisco Munoz, File) (The Associated Press)

BUENOS AIRES, Argentina – A judge in Argentina is charging former President Cristina Fernandez with defrauding the state as part of her government's handling of the futures dollar market.

Federal judge Claudio Bonadio said Friday that a scheme to keep the Argentine peso inflated by selling derivatives below market value would not have been possible without Fernandez's approval. The sales also led to a sharp drop in Central Bank reserves.

The decision was published on the site of the official judicial news agency. The crime is punishable by 5-20 years in prison.

Fernandez was dogged by corruption allegations during her eight years in the presidency. Since leaving office in December, she has also been included in investigations involving allegations of money laundering and possible illegal enrichment.