Argentine businessman Fred Machado admitted to US federal authorities in Texas his role in a money laundering and wire fraud scheme tied to aircraft sales.
Machado, who lent planes for José Luis Espert’s 2019 presidential campaign, pleaded guilty to conspiracy to launder money and commit wire fraud. The filing was made in the US District Court for the Eastern District of Texas before Judge Amos L. Mazzant.
The plea deal drops the initial drug trafficking charge. Investigators said Machado raised investor funds with false promises about unavailable commercial aircraft through firms including South Aviation Inc and Pampa Aircraft Financing.
President Javier Milei defended Espert, calling prior accusations a political and media operation. Extradited from Argentina, Machado has been held in Oklahoma for six months. Sentencing is expected in the coming weeks.
