I've heard this story before. It's interesting because as far as conspiracy theories go, this one is possible. His remains were damaged beyond recognition except for a jaw bone and forensic abilities at that time were not so great. Could he have killed a body double, who had dental work performed to match his own, and absconded during the chaos of the Soviet attack on Berlin? Which submarine base did he use; Bremen, Hamburg, Trondheim, Norway (where, if you have played MOHAA you had to destroy a U-Boat)? Could he have somehow made it to the base in Lorient, France, even though it was surrounded by the Allies? It stayed in Nazi German control at that time and offered the shortest trip to Argentina or, did he somehow make it by air, to the island of Vis, just under 700 miles from Berlin, in the Adriatic sea between Croatia and Italy. That would have allowed an escape through the Mediterranean Sea. We may never know.
One problem I have with this version of the story is where it says, "... four men who met Hitler and his party when they landed from two submarines in Argentina approximately two and one half weeks after the fall of Berlin."
Two and a half weeks is probably not long enough to make the trip. It would more likely take 35 to 45 days, even when in a hurry. Longer depending on the exact route and conditions. It's ~7000 miles from France, ~8000 mile trip by way of the Mediterranean Sea, and ~8500 miles from the North Sea from ports in Germany. The Pacific route is ridiculous at over 20000 miles.
Still, an interesting possibility.