Argentina's Former President faces trial for alleged public funds fraud

Argentina's former president Alberto Fernandez was charged Thursday with alleged embezzlement of public funds, Report informs, citing AFP.

In the charge sheet, Fernandez is accused of involvement in a scheme to subcontract public service insurance plans to private companies at a higher fee, with kickbacks for connected brokers and officials.

Also charged are the former head of Argentina's public insurance company, and a broker married to Fernandez's former private secretary, Maria Cantero.

Judge Julian Ercolini, in charge of deciding whether or not the case will go to trial, told AFP he had not yet seen the charge sheet but confirmed it had been issued by the public prosecutor.

On Tuesday, Fernandez had tried to distance himself from the case, telling La Nacion daily about his secretary: "I doubt she would do such a thing; if she did, I don't endorse it. I cannot guarantee that she didn’t do such a thing; if she did, she overstepped."

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."

Fernandez was president of Argentina from 2019 until he handed power in December to ultra-liberal Javier Milei, who has made it his mission to cut public spending.