After it became known that the central bank of the Argentine Republic (BCRA) requested the Attorney for Economic Crime and Money Laundering (PROCELAC) to investigate the activities of the financial company “Adhemar Capital SRL”, the owner of this firm, Edgar Adhemar Bacchiani, harshly questioned the federal body.
He did it through stories on his personal Instagram social network account. In his publications, Bacchiani affirms that the policies of the Central Bank “are generating rampant inflation and poverty” and in this context, he asked that the organism be investigated.
On Sunday it was learned that the BCRA asked PROCELAC to investigate Adhemar Bacchiani for the possibility that he is developing a pyramid scheme under the cover of alleged investments in cryptocurrencies.
According to the presentation made by the entity that controls the monetary, credit and exchange activity of the country, the profitability obtained by Adhemar Capital in speculation with virtual assets between August 28 and December 31, 2020 was significantly lower than the one that the firm paid its largest clients.
These conclusions were the result of an audit carried out by officials of the Superintendence of Financial and Exchange Entities Superintendence of Unauthorized Activities, to which El Ancasti agreed.
“There is a future possibility that the monthly obligations assumed for interest will be met with the same capital that the investors contributed. That is to say, that at the moment of the return of the capital invested, the verified company could not count, if it continues in this line, with the necessary funds to cover this obligation”, warned the auditors.
In his networks, Adhemar Bacchiani made several posts against the BCRA, in addition to sharing different journalistic articles that account for the complicated economic situation in the country.
“The Bank should really be investigated. Many people want to go and withdraw the money and they do not want to give it to them and threaten to close their account. Perhaps the Bank’s yields are lower than the rates they offer and they need more deposits to cover the leaks. That seems pyramidal… I just say (sic), “he says in one of his publications.
“They always hit those who generate. BCRA has funding problems and you’ll see why,” he wrote in another story where he also shared an article from a national media titled: “Free Market at war with the BCRA: I file a complaint for the norm that harms fintech”.
In another post, he shares another note with some data on inflation in the country: “Inflation accumulated more than 8,200% in 20 years: How much are the $100 of 2002 worth today,” says the shared article, to which he adds: “Policies promoted by the BCRA, generating rampant inflation and poverty”.
Repercussion
Different media in the country echoed the investigation request by the BCRA to the Justice to “Adhemar Capital SRL”, one of them was the Buenos Aires newspaper Ámbito Financiero. “The Central Bank requested that a trader be investigated for pyramid fraud,” headlines a note that reads: “The Central Bank requested the Office of the Attorney for Economic Crime and Money Laundering (PROCELAC) to investigate the activities of the “trader” Edgar Adhemar Bacchiani, owner of the financial company “Adhemar Capital SRL”, on suspicion of developing a pyramid scheme under the cover of alleged investments in cryptocurrencies”.
The website of news channel C5N was also interested in El Ancasti’s publication. “The Central Bank asks that “trader” Edgar Adhemar Bacchiani be investigated for alleged fraud,” the article headlines.
“Bacchiani’s company paid $20.7 million in that same period and pocketed deposits of $73.8 million, that is, it entered three and a half times more than what it disbursed for profits. The conduct could be framed in the crime defined in the article 173, subsection 7, of the Penal Code, as an abuse in the authorized use of the funds that have been entrusted to it,” the note explains.