José Luis Espert's resignation from his candidacy for deputy for the province of Buenos Aires was confirmed this Sunday in a message published on X. The post indicated that the resignation was submitted to President Javier Milei, who accepted it. The economist stated that he will seek to "prove his innocence" in court.
The announcement comes after two weeks of allegations regarding a $200,000 payment recorded in U.S. court documents linked to a Guatemalan firm linked to businessman Federico "Fred" Machado, who is under investigation for federal crimes. The controversy has put scrutiny on previous financial transactions and the opening of accounts in the U.S. for third parties.
Political sources indicated that the ruling party assessed the situation for its potential electoral impact. Meetings in Olivos and conversations with party leaders were mentioned. The final decision was to withdraw the nomination to avoid the campaign being jeopardized by an issue unrelated to the party's agenda.
In his post, the president shared the former candidate's message and framed the departure as part of a "process of change" that, he noted, should not be affected by legal disputes. The interpretation within the ruling party aligns with the concept of "damage control" that various analysts use to describe tactical decisions during campaigns.
José Luis Espert's resignation: chronology of the case and its effects on the campaign
According to documents cited by the investigation, the monitoring of transfers and accounts reportedly began in 2019. In 2022, a transaction of USD 100,000 was reported, classified as part of a sanctions regime. In parallel, US authorities estimated partial inflows into the financial system of approximately USD 25,000, while other transactions were being verified. The economist's defense maintains that it will demonstrate the legitimate origin and destination of the funds.
In the political arena, the resignation reshuffles the ballot in the province of Buenos Aires and forces a recalibration of the communications strategy. Leaders who had been supporting the continuation of the candidacy changed their position due to the possibility that the issue would displace other campaign priorities. Comparisons with recent electoral precedents resurfaced, particularly in cases where candidates resigned to avoid negative influence.
The episode also opens a chapter on judicial cooperation. When an investigation involves cross-jurisdictional matters, prosecutorial teams request banking, corporate, and immigration information. This process includes KYC validations, suspicious transaction reports, and accounting appraisals on beneficial owners. The case maintains the presumption of innocence, and the evidence phase will continue with requests from entities and testimony.
In terms of communications, the now former candidate's interview schedule was overwhelmed by new publications and documents. Official spokespersons acknowledged that the case required more details. The resignation seeks to focus the discussion on the electoral offer and reduce the list's exposure to external influences.
What to watch from now on
In the short term, the party must formalize replacements, adjust its campaign routes, and maintain a unified message. The opposition expects the issue to remain on the agenda, with calls for transparency and access to documentation. For the electorate, the focus will be on programs, numbers, and proposals, in an economic context that continues to challenge pockets, odd jobs, and daily work.
In judicial matters, the next steps could include new requests for information from correspondent banks, expanded statements, and matching of transfers between linked accounts. If matches are confirmed, precautionary measures on assets . The defense, for its part, may present defenses, traceability of funds, and supporting documentation.
The resignation of José Luis Espert marks a turning point in the Buenos Aires campaign. Politically, it organizes the ranks and clears the calendar of events tied to the case. Judicially, the case continues with the exchange of data between agencies and international cooperation standards.
