Leonardo Cositorto, accused of main the Generación ZOE pyramid scheme, was introduced this week earlier than Regional Unit 8 of Goya, within the metropolis of Corrientes, in Argentina, to be prosecuted. The method, which may final till December 11, marks a brand new chapter in probably the most high-profile instances of cryptocurrency scams within the area.
Cositorto arrived on the trial sporting a bulletproof vest and underneath heavy guard. Together with him, Miguel Ángel Echegaray and Maximiliano Batista, will likely be transferred from the Bouwer jail to stay detained throughout the judicial course of. Different defendants, Lucas Damián Camelino, Nicolás Ismael Medina and Javier Sebastián Medina, will likely be launched.
The courtroom, chaired by Choose Ricardo Carbajal, could have members Jorge Carbone and Julio Duarte. Prosecutors Juan Carlos Castillo and Rubén Barry will likely be answerable for prosecuting the case, whereas legal professionals Pablo Andrés Fleitas and Alejandra Soledad Fleitas will characterize the grievance.
The prosecution, the grievance and the protection have summoned a complete of 166 witnesses for the hearings. This excessive variety of witnesses underscores the complexity and scope of the case, which has left a deep mark on the neighborhood and monetary markets within the area.
ZOE Technology was one of many largest scams of its type, spreading to a number of Latin American nations and Spain. In 2022, the group collapsed, leaving 1000’s of individuals with out their investments. The scheme promised excessive earnings by the shopping for and promoting of cryptocurrencies, utilizing referrals that incentivized customers to recruit extra individuals.
Final 12 months, Leonardo Cositorto despatched a powerful message to the victims of Generación ZOE, stating: “Neglect that you’re going to get your a reimbursement.” This assertion, reported by CriptoNoticias, displays Cositorto’s angle in the direction of the 1000’s of individuals affected by its scheme.
Leonardo Cositorto, recognized because the chief of Generación ZOE, was the one who gave a face and voice to this group. Within the midst of the scandal, Cositorto was arrested within the Dominican Republic in April 2022, accused of pyramid scheme and illicit affiliation. His arrest was the results of a collaboration between Interpol and Argentine judicial authorities, who labored to find him after months of being a fugitive from justice.
The extradition of Cositorto from the Dominican Republic to Argentina didn’t happen underneath a proper extradition settlement, since there isn’t any particular settlement between each nations for this. Nonetheless, due to a cooperation settlement in fugitive instances, Cositorto was transferred to Argentina to face the fees.
Including up all of the attainable convictions on prices of fraud and illicit affiliation, and considering the transnational nature and quantity of the rip-off, it’s speculated that Cositorto may face greater than 20 years in jail. This calculation is predicated on the buildup of sentences for the totally different crimes and the potential of them being thought of in actual or ultimate competitors in keeping with Argentine felony laws.
This text was created utilizing synthetic intelligence and edited by a human Editor.
