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Financial News: ARGENTINA: House Authorizes Kirchner's Prosecution For 'il

ARGENTINA: House Authorizes Kirchner's Prosecution For 'illicit Association'

11/30/2017 - 16:21:00 (RTTNews)

(RTTNews) - Argentina's House of Representatives authorized the prosecution of former president Cristina Fernández de Kirchner as the alleged head of an illicit association. She is accused of money laundering and "gifts" distribution in the "Los Sauces" case, in which contractors allegedly rented property from a company that belongs to the Kirchner family to obtain public contracts.

Cristina, who recently was sworn in as a Senator, denies the allegations while accuses the current Argentinean President, Mauricio Macri, and his allies of sponsoring lawsuits against her as a political weapon.

In its decision, the House of Representatives considered "lack of merit" for an "incompatible negotiations" allegation and reduced an assets embargo from up to 130 million pesos (US$ 7.47 million)to up to 110 million pesos (US$ 6.32 million).

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