Overview
- A regulatory resolution, issued Monday, revoked ARS Cambios’ license, levied a 18,098,701,115‑peso fine, and banned Ariel and Graciela Vallejo from the sector for five and six years.
- Investigators found the firm moved more than US$25 million at the official rate in 2023, sent 99.1% of those dollars to other exchange houses, and failed to record purposes or the source of funds.
- The Central Bank said the average 102% gap between the official and informal “blue” dollar last year points to about US$25.9 million in gains for participants in the circuit.
- Ariel Vallejo has been summoned to give a statement before a federal judge on May 5 in a money‑laundering probe, and the firm can appeal the sanction within 30 business days without pausing its effect.
- The bans bar the Vallejos from roles in banks, lenders, and fintechs, and the case underscores how strict currency controls can spur schemes that route official‑rate dollars into the informal market.