Cristina Fernandez de Kirchner, President of Argentina from 2007 to 2015, was indicted Tuesday on corruption charges. She has denied all allegations, arguing they are politically motivated.
Fernandez is being investigated for illicit association. Judge Julian Ercolini has ordered an embargo of 10 billion pesos, according to local media outlets.
Prosecutors accuse Fernandez of using the power of her office to guide public contracts to a businessman close to her family, Lazaro Baez, whose company allegedly gained from the contracts.
Further, two cabinet ministers were named in the indictment, former Planning Minister Julio de Vido and Public Works Secretary Jose Lopez.
According to the ruling, the defendants are accused of conspiring to illegally take taxpayer dollars meant for public works projects between 2003 and 2015.
Baez's companies received 52 contracts to do $2.9 billion worth of public works projects.
Gregorio Dalbon, Fernandez's legal counsel, said via Twitter that he is not worried about the indictment and that he plans to appeal.