In the first hearing of the trial, held on Thursday, the businessman’s defender, Guillermo Dragotto, had requested the suspension of trial, since “no one who wants to scam invests in dozens of companies, such as gyms, schools, universities, and many others, as ‘Generation Zoe’ did.” Despite the argument, the magistrates rejected the request and the case will continue its course.
On Thursday, Cositorto faced his first hearing in the legal process and its defenseled by Dr. Dragotto, requested the suspension of trial on the basis of the detainees were already condemned by society, in addition to stating that the companies were “lawful” and they were registered. In addition, the defender considered that his clients invested millions of dollars in Generation Zoe: “No one who wants to scamr invests in dozens of companiessuch as gyms, schools, universities, and many others, as “Generation Zoe” did.
Along these lines, the lawyer added that the contributors they signed a trust and they had full knowledge of the risks of investing your money in the company and earn much higher interest than a bank offers. “They were not scammed because they accepted the rules of the contract“he added in his arguments.
Ultimately, the professional pointed out that the fall of Generación Zoe did not occur because it was a pyramid scheme but rather it was as a result of the fact that the Villa María Investigative Prosecutor, Juliana Companys, not only requested the international arrests of those involved, but with his two complaints they inhibited the goods and their accounts were blocked.
Despite the arguments, the defense’s request was rejected by the magistrates. According to officials from the Public Prosecutor’s Office of Corrientes, Cositorto, Batista and Echegaray “appeared to be owners of assets, businesses and companies.” In this way, the logistics consisted of persuade and attract investorswhich would later be victimsthrough free digital marketing events (on Facebook, Instagram, Twitter, WhatsApp, Telegram, Zoom).
In detail, for the prosecution Cositorto was “the main protagonist in the design and motorization of the structure”.
Thus, the leader of Generación Zoe, Batista and Miguel Ángel Echegaray will be tried for alleged illicit association as organizers and fraud in the form of a continuing crime in real competition as co-authors. The sentence will be announced on December 11 in the room of the Goya Trial Court, located at 550 Ejercito Argentino Street.
Who is Leonardo Cositorto
Leonardo Cositorto, CEO of Generación Zoe, was arrested in the Dominican Republic by Interpol personnel and the police of that country in 2022. The businessman is charged with Illicit association and fraud.
For nearly 30 years, in different companies and sectors, Cositorto put together teams based on pyramid schemes who work in companies that, years later, ended up bankrupt. In recent years, he had come to work with the Deportivo Español soccer club in Buenos Aires, a step that helped him consolidate his image and expand his reach to a larger audience.
cositorto 2.jpg
This 52-year-old man presents himself as a minister of a cult. This explains why, in parallel, the organization has created its own church: AVIVA ZOE.
According to the accused’s version, the ZOE holding company – for which he was arrested – already had a presence in 17 countries, maintained some 65 active offices and had 85,000 members. However, the leader appears registered in AFIP as class A monotributist.
This supposed CEO explained his business by saying that it was about smart memberships, where the money that each person invests is uploaded to a personal platform in which they can see the interests generated throughout the three years of their training.
“It is a lie that it is a scam. A person who scams leaves. We open 79 branches and we do not have a pyramid model because those kinds of models don’t last more than six months or a year. They are looking to turn us over“Cositorto stated in response to the accusations.
In detail, Generation Zoe is accused of carrying out a pyramid scheme known as Ponzi scheme. In this type of crime, people are convinced to give up savings and to get new participants to enter. exchange for greater benefits.
According to what he promoted to supposed investors, he had assets such as a cryptocurrency called Zoe Cash which went from being worth around 30 cents on the dollar at the beginning of 2022 to just over 1 cent in a few months (-97%) and boasted of guaranteeing a return of 7.5% to 10% monthly or up to 120% annually in dollars. In addition, they had also begun to invest in multiple businesses such as football, gastronomy, the metaverse and NFTs.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
