Prosecutors dismiss Bioceres fraud complaint over $12M

The Public Prosecutor's Office of Rosario dismissed a criminal complaint filed by Bioceres Crop Solutions against its former legal director, Gloria Montarón Estrada. The action alleged fraud linked to the transfer of 5.3 million company shares valued at approximately 12 million dollars.

The ruling was issued by prosecutors Sebastián Narvaja and Ramiro Gonzales Raggio due to technical complexities surrounding the transaction. The complaint, originally filed in May, claimed that the transfer occurred in October of last year using forged documents with a counterfeit signature of CEO Federico Trucco. The company alleged this happened about four months after Montarón Estrada left her legal role.

Montarón Estrada was never formally charged, notified, or summoned by prosecutors. She left her position at Bioceres in July to become president of Moolec, a company connected to Uruguayan businessman Juan José Sartori. Sartori became the majority shareholder of Bioceres through Moolec amid a corporate restructuring between 2024 and 2025.

The dismissal is not final. Complainants led by Trucco appealed the decision, sending the case to Rosario regional prosecutor Matías Merlo. Bioceres leadership expects the dismissal may be upheld and is already evaluating legal action in other jurisdictions amid the broader battle for control between Sartori and historical shareholders.