Smiling brown-haired woman waving from a balcony with a black railing and a bright background
ARGENTINA

The judiciary ordered the corrupt Cristina Kirchner to pay $684 billion.

The measure includes a period of 10 business days to cover the amount of the forfeiture. If the payment is not made, their assets will be auctioned

Federal Oral Court No. 2 ordered former president  Cristina Fernández de Kirchner and the other eight convicted in the "Vialidad" case to pay $684.990 billion as forfeiture for defrauding the State through the rigging of public works contracts in  Santa Cruz. The amount was determined by official experts from the Supreme Court of Justice and reflects the updated value of the damage caused.

Judge Jorge Gorini granted a period of ten business days to settle the amount. If they fail to do so, the auction of the  bassets registered in the names of the convicted individuals will proceed. The court ruling states that the sum must be paid jointly by the nine involved, who must agree on the payment method. Otherwise, asset seizure will be enforced.

Two people pose smiling in a wooden room next to a framed portrait of a blonde woman.
Cristina Kirchner together with José Lucas Gaincerain, the former president's accounting expert in the "Vialidad" case | La Derecha Diario

Cristina Kirchner, through her expert witness,José Lucas Gaincerain,  submitted an alternative calculation that drastically reduces the amount:he estimates that the total to be returned is $42.494 billion, just 6% of the amount set by the court experts.

The discrepancy is based on the updating method: while the official experts applied the Consumer Price Index (CPI), the defense expert used the passive rate of the  Central Bank, arguing that it better represents the evolution of the financial value of money.

Among the assets that could be auctioned are 26 properties belonging to the Kirchner familytwo in the Autonomous City of Buenos Aires and 24 in Santa Cruz—,  two luxury apartments and parking spaces in Puerto Madero, as well as the residence in San José where the former president is under house arrest. The inclusion of this last property demonstrates, according to judicial sources, the broad scope of the forfeiture.

Prosecutor Diego Luciani continues working on a broader list of assets, which includes properties transferred to the former president's children, Máximo and Florencia Kirchner. Assets linked to the family companies Los Sauces, Hotesur, and COMA S.A. are also being evaluated, as well as Florencia Kirchner's $6 million in cash.

View of a large house in a rural area surrounded by trees and hills, with several people walking and some parked cars.
Cruz Aike, the jewel among Báez's ranches, will now go to judicial auction for US[IMAGE].4 million | La Derecha Diario

In its ruling, Federal Oral Court No. 2 supported the report prepared by the official expert and validated the use of the Consumer Price Index (CPI) from INDEC as the criterion for updating the forfeiture amount.  "The reasons provided by the accounting expert are considered solid and duly justified, in accordance with the accounting standards invoked as the basis for her technical actions in updating the amount at issue here", the judges stated.

They also emphasized that the  methodology adopted by the official expert was not challenged by any of the party experts, despite representing opposing interests in the process.  "To such an extent that, beyond the opinions of the experts representing the parties' interests, none of them questioned or challenged the specific methodology chosen and explained by the official expert", they added.

In this context, the court rejected the expert report submitted by Cristina Kirchner's accountant, José Lucas Gaincerain, stating that it deviated from the reference value accepted throughout the entire investigation. "The updating calculation he performed was based on a different reference value than the one indicated and on which the other accounting experts issued their opinions; this circumstance exempts us from any further consideration regarding the calculation method itself", the judges concluded.

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