ARGENTINA Law and Practice Contributed by: Roberto Durrieu, Tomas Guido and Aranzazú Sesma Lasierra, Estudio Durrieu
books and records and the dissemination of false information - specifically, falsification or adulteration of documents and false balances sheets. In this regard, Argentine courts penalise the representative, administrator or controller of a commercial company that is obliged to estab - lish private control bodies when they inform the partners or shareholders by hiding or falsifying facts that are important to assess the economic situation of the company or when they include false or incomplete data in the balance sheets, annual reports or other accounting documents (Article 309(2) of the Criminal Code). The law also punishes whoever makes in whole or in part a false document or adulterates a true one, in such a way that it may result in damage (see Article 292 of the Criminal Code). The founder, director, administrator, liquidator or trustee of a corporation, co-operative or other collective person, who knowingly publishes, cer - tifies or authorises a false or incomplete inven - tory, balance sheet, profit and loss account or the corresponding reports, minutes or memoirs, or falsely informs the assembly or meeting of partners about important facts to assess the economic situation of the company, whatever the purpose of the verification may have been, is also punishable by law (Article 300 Section 2 of the Criminal Code). The dissemination of false information is not a crime unless it is used for the purpose of instill - ing public fear or inciting riot or disorder (Article 211 of the Criminal Code). 2.4 Public Officials Argentine law contains several offences relating to the misappropriation and misuse of public funds by public officials, as follows.
• Misappropriation of public funds Article 260 of the Argentine Criminal Code criminalises the misappropriation of public funds by a public official, encompassing any unlawful appropriation or use of such funds for per - sonal gain. • Unlawful taking of interest Article 261 prohibit officials from obtaining personal benefits or advantages in connection with their official duties. • Embezzlement Article 260 criminalises unlaw - ful use of public funds by a public official for purposes not authorised by law, resulting in financial loss to the state. • Favouritism Article 256 bis prohibits acts by a public official to benefit a specific indi - vidual or entity unlawfully in the exercise of their public duties, undermining fairness and equity in public administration. The public official must not appoint relatives or friends to serve in their department, in line with the Public Official Ethics Code, sanctioned by Decree No 41/99. These provisions reflect Argentina’s commitment to preventing corruption and ensuring account - ability among public officials. 2.5 Intermediaries There are general provisions that penalise the intermediary according to their degree of partici - pation in the criminal act. Primary or secondary complicity is determined based on the essential nature of the contribution. However, their liability may be excluded in case it is proven that they acted as a mere instrument without the will to commit the crime. In addition, specific regulations are provided for. In criminal tax matters there is the clause of “acting in the place of another” which is used to
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