Secretary of Infrastructure Coordination Carlos Frugoni resigned on Sunday after becoming involved in a controversy over undisclosed real estate holdings in the United States.
Economy Minister Luis Caputo appointed Fernando Herrmann to head the vacant secretariat. Since January, Herrmann has served as the Secretary of Transportation and will be replaced by Mariano Plencovich.
Frugoni was under fire after a journalistic investigation revealed that he owned at least five properties and two businesses in Miami that he had failed to report to the Argentine tax authorities.
According to reports, Frugoni allegedly used two Delaware limited liability companies, incorporated in 2021 and 2025, to acquire and manage the real estate in Florida.
The properties are reportedly valued between US$140,000 and US$310,000, with at least five of them located in Palm Beach County, one of the most exclusive real estate markets in the southern U.S.
The reports led the judiciary to open an investigation.
This comes as Chief of Staff Manuel Adorni is also facing accusations of illicit enrichment. The judiciary is investigating undeclared properties and expenditures that appear not to match his declared income.
According to La Nación investigative journalist Hugo Alconada Mon, Frugoni failed to declare at least five Miami properties before Argentine judiciaries. A24 reported that there could be another three.
Who is Fernando Herrmann?
Herrmann graduated in architecture from the University of Belgrano and holds a postgraduate degree in business administration.
He’s built a technical background in infrastructure and management, having spent more than three decades running his own architectural firm and also serving as managing partner of a company specializing in construction projects.
His career also includes academic work at various institutions, including the University of Buenos Aires’s Faculty of Architecture, Design and Urbanism (FADU), the National University of San Martín (UNSAM), and the Professional Council of Architecture and Urbanism, a background that the government highlights as part of a “management” profile suited for a secretariat critical to investment and concession strategy.
