Cabinet Chief Manuel Adorni admitted this week to concealing more than half a million dollars in earnings from Argentina’s tax authorities as a private citizen as he attempted to turn the page on a scandal that has dominated headlines for the last three months.
In a primetime television interview on Wednesday, the 46-year-old admitted that he and his wife had saved money “en negro (“off the books”) … like everyone else in Argentina.” The funds, he said, “pre-date my time in government.”
"Of course I made a mistake. I will pay every tax I am required to pay, every fine, all the interest and everything arising from this error," Adorni told the LN+ television news channel.
The official said that he and his wife, Bettina Angeletti, had chosen not to declare those earnings because "the way to protect yourself from the old political system was to keep savings off the books.”
Many Argentines have historically distrusted the banking system, having lived through repeated economic crises and periods of high inflation.
The remarks come as Adorni, a senior figure in President Javier Milei’s government, faces mounting scrutiny over his big-spending lifestyle, including lavish family holidays and undeclared property purchases for amounts far exceeding his official earnings.
Adorni is under investigation by the courts over the purchase of several properties, though he has not yet been formally questioned.
In the interview, Adorni revealed that he had now submitted a revised asset declaration to the Anti-Corruption Office earlier in the day – complying with a longstanding demand from opposition lawmakers.
The new information will also be incorporated into an ongoing judicial investigation into alleged inconsistencies in his declared assets, he added.
Undeclared funds
According to Adorni, the undeclared funds originated entirely from his private-sector employment and cryptocurrency investments between 2014 and 2018, before he was formally appointed presidential spokesperson in December 2023.
The official confirmed that he had submitted amended declarations for 2023 and 2024 and acknowledged that he had failed to declare approximately US$500,000 generated through investments made using undeclared savings, including investments in Bitcoin.
"Looking back, we invested around US$200,000 and made approximately US$300,000 in profit," said Adorni.
Online sleuths, however, quickly poured scorn over those claims, digging up a 2021 video featuring Adorni in which he says he did not ”understand” Bitcoin in 2016 when discussing the topic as a teacher with students.
The official refused to answer questions about credit-card expenditure, responding that such information was legally protected private data.
U-turn
The admission marks a significant reversal from Adorni's previous public position. On April 29, during an appearance before Congress, he said that there had "never been any concealment whatsoever" of his assets.
The controversy began in March, when media reports focused on a government trip to New York revealed that Adorni's wife had joined the presidential delegation travelling on the presidential aircraft.
Further media reports revealed expensive family holidays, trips taken by private jet and the purchase of multiple properties over recent years by the Adorni family.
The declaration was submitted after months of criticism from both opposition figures and some voices within government circles, including ruling party Senate caucus leader Patricia Bullrich.
"Since I was 18 years old, I've worked in the private sector, and my wife has spent her entire life in the private sector as well. We've saved money all our lives and kept it off the books, like most Argentines who were fortunate enough to be able to save," Adorni told LN+.
"I had to prove that I wasn't a crook. That's what my lawyer told me, and the only way to do that was by submitting the asset declaration,” continued the official.
Resignation?
Adorni also revealed that he had initially considered resigning his post due to the controversy.
"My first instinct was to resign, but I received strong support from President Javier Milei and from Karina Milei," he said.
Adorni previously served as Milei’s presidential spokesperson. He was appointed Cabinet chief last November.
The President has repeatedly backed Adorni publicly, stating the official “has everything in order” and vowing not to sack him.
The under-fire official complained to LN+ that he had been “convicted by the media,” but said the target of ire was in fact President Milei.
"The President trusted me completely. He knows I'm a decent and honourable man. They accused me of being a crook from day one," stated Adorni.
‘Shameful’
Milei backed his Cabinet chief after the interview, reposting a string of messages by supporters on social media. Nonetheless, the official’s explanations prompted questions from various political sectors.
Vice-President Victoria Villarruel waded into the row after responding to a user on social media who asked if she believed Adorni’s explanation.
“No. I find his actions and his explanations shameful,” responded the Senate chief, who has been sidelined by La Libertad Avanza’s top officials since Milei’s election in December 2023.
In the interview, Adorni also referenced the controversial loan he took out with private citizens to cover the purchase of a flat in the Caballito neighbourhood of Buenos Aires. Describing the manoeuvre – for which he is under investigation by the courts – as a “transaction between friends.”
“It was a transaction between friends, lawful, normal and routine," said Adorni, who claimed the purchase was inspired by the hostile reaction of everyday citizens to his role in politics.
“It was a transaction that took place because of the security concerns I had. In the flat on Avenida Asamblea, there were neighbours who were very hostile; they would throw things at my balcony and attack me in the corridors. At one point, it became unbearable,” said the Cabinet chief.
The courts are investigating the transaction, which was for US$230,000, of which Adorni paid US$30,000 in cash and two other individuals financed the remaining US$200,000.
– TIMES/AFP/NA
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