Alex Coin 
After several months in hiding, the authorities in the Dominican Republic, with the support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. of Interpol captured Leonardo Cositorto, the main figure behind the Generation Zoe. He will soon be extradited to Argentina where he will have to answer for the fraud charges against him.
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After eluding authorities in Argentina and remaining a fugitive for more than two months, Dominican Republic authorities finally captured yesterday Leonardo Cositorto, the person responsible for an international scam a scheme that is designed to dupe people out of cash or crypto. known as the “International Scam”. Generation Zoe, which ended up affecting a large number of people in several Latin American countries.
The case of Generation Zoe
The information was reported by a large number of international media, which emphasize that the capture of Cositorto was possible thanks to a joint investigation between Interpol and the authorities of several Latin American countries, finally finding the accused in the Dominican Republic in a procedure that took place on the morning of April 4.
Cositorto was wanted in Argentina as well as in other countries for his involvement in Generation Zoe, illegal investment scheme he ran, which promoted itself as an educational program and masked a controversial investment group that was nothing more than a pyramid scheme. (Ponzi) in which the profits payable to the older ones were derived from the revenue contributed by referrals who were new to the business model.
The latter was particularly attractive to the unknowing as they offered monthly returns of 7.5% to 20% depending on the capital capital is most commonly defined as the large sum of money you would use to invest. contributed, the latter being locked in for a period of at least three years with penalty clauses if funds are withdrawn before that time. The investments covered many areas of business, including alleged trading of cryptocurrencies and even the launch of a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. of their own, which was allegedly backed by gold reserves.
Several local and international entities came to pronounce themselves on the presumed offer of Generation Zoe, rightly warning about the inorganic nature of the business model. The associated investigations detailed that Cositorto is pointed out in at least 40 complaints for scam in Villa María, province of the state of Córdoba in Argentina, but according to projections presented by the accused at the time, it is estimated that the scam already had a presence in more than 17 countries, mainly in Latin American territory (highlighting Colombia and Chile).
The capture of Cositorto in the Dominican Republic
Authorities in Argentina issued a warrant for Cositorto’s arrest in January of this year. Since then, the accused has been on the run in hiding and moved around several countries in Latin America to elude authorities, who had requested support from Interpol to track his whereabouts.
Despite being on the run from authorities, Cositorto remained active on social media and both he and his legal team said they would fight in court to prove his alleged innocence, so he would eventually return to appear in court in Argentina. In an interview with Colombian media outlet WRadio, the CEO of Generation Zoe claimed that it was all a defamatory campaign, in which he and his team were unfairly attacked.
It is worth noting that Cositorto has not been the only person captured for crimes associated with Generation Zoe. Authorities in Argentina also managed to find another of the perpetrators, Max Batista, who served as an accountant for the alleged company, and 20 other people, including members of the police force who were involved in the scam.
For now, Cositorto is awaiting his extradition order to be taken to Argentina, where he will be held accountable by local authorities.
Be careful, don’t let your guard down!
As it usually happens in most of these cases, even if the main heads of a scam fall, this does not prevent it from continuing to have a presence in the places to which they have managed to expand, so most likely the advertising campaigns will remain active and will be looking for unaware people to capture them and take their capital.
Keep in mind that there are many irregularities and inconsistencies in which it incurs Generation Zoe, highlighting that their business model and commercial offer are clear indicators that point to a Ponzi scheme of great proportions that operates at an international level. Those who hand over their capital and wait for their commercial promises to be fulfilled are unlikely to recover at least a portion of the money invested.
As always, we invite everyone to investigate and make the proper inquiries before getting carried away and invest investing is when you put money in a financial scheme with the intent of making a gain. capital in any offer that proposes to obtain apparently good returns on your investment, especially if they appeal to make use of new financial technologies such as cryptocurrencies, since not being regulated regulation is when something is controlled by a specific set of rules. products, there is very little that the authorities can do once the scam is perpetrated beyond trying to catch the alleged perpetrators.
- Local media warns about Generación Zoe in Colombia: “Beware of this company accused of alleged scam”.
- Users tell how they fell for cryptocurrency scams; learn about the most common traps
- Scams and cryptocurrencies: A practical guide to avoid digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. scams
- NGO Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. Argentina denounces crimes of fraud perpetrated by Generation ZOE
Source: WRadio , El País , Ámbito
Version by Angel Di Matteo / DiarioBitcoin
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