Luis Caputo faces criminal complaint over Central Puerto mining profits

Argentine Economy Minister Luis Caputo faces a criminal complaint following a highly profitable transaction by Central Puerto, Argentina’s largest private electricity generator. The complaint, filed by lawyer Virginia Marta Cassola, alleges crimes including incompatible negotiations with public office, breach of official duties, fraud, and the misuse of privileged information.

The legal action centers on Central Puerto’s sale of its 9.9% stake in the Canadian-listed miner AbraSilver. Central Puerto originally acquired the stake in 2024 for approximately US$25.5 million and sold it this week for US$163.1 million, yielding a profit of roughly US$137.6 million. This represents a 539 percent return in two years.

The surge in value is attributed to the RIGI (Incentive Regime for Large Investments), a tax-break framework that AbraSilver’s Diablillos silver project secured in May. While the transaction has drawn political suspicion regarding the timing and the connection to the minister, no authorities have officially found wrongdoing. Central Puerto intends to distribute the proceeds to shareholders via a dividend of approximately 247.3 billion pesos.