{"id":14973,"date":"2023-05-28T14:47:02","date_gmt":"2023-05-28T18:47:02","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/dlocal-claims-report-of-argentine-investigation-is-misleading-shares-plunge\/"},"modified":"2023-05-28T14:47:02","modified_gmt":"2023-05-28T18:47:02","slug":"dlocal-claims-report-of-argentine-investigation-is-misleading-shares-plunge","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=14973","title":{"rendered":"DLocal claims report of Argentine investigation is misleading, shares plunge"},"content":{"rendered":"
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\u00a9 Reuters. DLocal (DLO) claims report of Argentine investigation is misleading, shares plunge<\/span>
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Shares of Uruguay-based payment processor DLocal Ltd (NASDAQ:) declined Friday, falling over 17% following allegations it is being investigated in Argentina for “improper” actions in foreign exchange and suspicious money transfers.<\/p>\n

DLocal issued a press release refuting the claims and calling them \u201cmisleading.\u201d<\/p>\n

\u201cAs of today, we have not been notified by any Argentinian authority regarding a foreign exchange investigation,\u201d DLocal said in a statement. \u201cWe continue to process payments normally in Argentina. We have been operating in the country since 2016 and have a solid local presence with over 150 employees across numerous offices.\u201d<\/p>\n

DLocal has been a target of famed short-seller Carson Block. Six months ago, Block, founder of Muddy Waters Research, accused DLocal of various lies, and he has continued to insist that the company is a fraud.<\/p>\n

Earlier today, Muddy Waters tweeted a link to an article by Infobae that discusses the alleged investigations in Argentina.<\/p>\n

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One might wonder HOW Nigeria has suddenly come to be so important to $DLO<\/a>. It’s a fraud, so the more important question is “WHY?” Here’s one likely reason-Argentina investigating DLO for illegally circumventing exchange controls on at least $400 mm https:\/\/t.co\/H0dseEwQkU pic.twitter.com\/fp2LmBKkO7<\/a><\/p>\n

\u2014 MuddyWatersResearch (@muddyWatersre) May 26, 2023<\/a><\/p><\/blockquote>\n<\/div>\n

\u201cWe will not be distracted by misleading allegations. dLocal is committed to the integrity of all its business activities and will continue to focus on providing the best and most comprehensive solution for our global merchants in each market in which we operate,\u201d DLocal responded.<\/p>\n<\/div>\n