Argentina courts seize Vallejo-linked vehicles

For investors and creditors, the significance is less about the car count than the signal: authorities are treating the fleet as potential instruments or proceeds of crime and moving to preserve value before any final forfeiture order. In a case involving alleged transactions of about 818 billion pesos through Sur Finanzas PSP, the asset freeze suggests prosecutors believe there may be material recoveries available if the case holds up in court.

Prosecutors said Vallejo staged a fake sale of the Ferrari just 10 days after raids, allegedly transferring it to a 73-year-old retiree for the same amount he paid, in what they called an effort to dodge seizures. The judge also barred Vallejo from providing financial services and notified Argentina’s securities regulator, widening the pressure on a business that had just tried to reopen after months of disruption.

The case has spilled beyond Vallejo’s garage. Federal police also raided San Lorenzo, Racing and Argentinos Juniors, three clubs that had business links to Sur Finanzas, underscoring how the probe is reaching into Argentine football’s commercial network as regulators examine whether the money flowing through the fintech group was genuine and properly taxed.

The next catalyst is whether the courts formalize broader asset confiscation and whether the financial and club-related investigations produce charges that deepen the reputational and regulatory hit.