The judge ordered that the general inhibition of assets of Cositorto and his partner Maximiliano Bustos be, in principle, for a period of two years, a measure that he ordered to immediately register in the National Registry of Automotive Property and in the Property Registries. Property of this city and the Province of Buenos Aires
“The public importance of the case analyzed and the nature of the complaints made cannot go unnoticed. The confidence of private investors seems to be at stake (no matter how little or much money they may have invested) and, therefore, the general interest derived from the spurious capture of citizens’ savings,” the judge said.
The judge also took into account that the National Securities Commission (CNV) had instructed Generación Zoe SA last October to cease activities of attracting public savings and advice on capital markets, since the firm did not have authorization. for it.
“I believe it is convenient to point out that the apparent non-observance of the aforementioned administrative decision of the CNV could lead to the assumption that, if a measure such as the one required is not adopted imminently, the illegal activity reported will continue,” he said.
“The duty of the State to correct the conflicts that arise in the commercial society finds support in the defense of legal certainty towards those who, believing in that entity, have transmitted part of their savings. And although Generación Zoe SA is not registered as a capitalization and savings company, it is attributed precisely to have developed that intermediation or fundraising (perhaps hidden behind alleged “educational” or related services) without proper authorization; matter that prima facie would seriously affect the public interest, “said the judge.
“Entities that capture a significant mass of funds from the public are, in general and especially in developed countries, subject to state authorization and supervision, as a means of protecting the interests of savers and allowing the orderly development of a activity, that of saving, in which the citizen’s interest is strongly compromised”, he remarked.
“Finally, the fact that, according to what was reported by the IGJ, the only partners of Generación Zoe would be the main director Leonardo Cositorto and the alternate Maximiliano Batista, who, according to what was publicly revealed, would be abroad and regarding those who would have issued international arrest warrants in the framework of ongoing criminal cases,” he concluded.
Source: Ambito
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