Interpol Apprehends CEO of Generation Zoe, an Alleged Cryptocurrency Scam in Argentina – Bitcoin News

Interpol managed to capture Leonardo Cositorto (the former CEO of Generation Zoe), one of Argentina’s largest alleged crypto and financial scam sites. Cositorto, who was also in charge of Sunrise Coach in Dominican Republic was reported to have been arrested. Now, he will be extradited from Dominican Republic to Argentina.

Leonardo Cositorto is Arrested in Dominican Republic

A man wanted in relation to Generation Zoe’s alleged largest pyramid scheme in Argentina has been finally found. Interpol has arrested Leonardo Cositorto (the former CEO of Generation Zoe) this week in Dominican Republic. This was the result of an operation by Interpol and Dominican officers.

The authorities were able to track Cositorto’s location using the IP records that he left when using social networks to promote a new initiative called Sunrise Coach. Investigators discovered that Cositorto broadcasts on a daily basis. They were looking at the backgrounds images included in the videos. This allowed them to verify that the scenes shown in the videos were similar to those seen in Santo Domingo.

Cositorto was found at a regional hotel and will face fraud charges related to Generation Zoe. Cositorto was an escaped criminal since February. However, he managed to get into illegally the Dominican Republic.


Generation Zoe

Generation Zoe was established five years back as a coach aid. As the organization grew, it added a financial arm that utilized funds donated by supporters. These funds generated earnings for them, that were advertised as “secure” by the company. This was allegedly due to investments made in various areas, such as car sales, mining, healthcare, aesthetics and real estate.

Even though the company issued its own cryptocurrency named Zoe Cash (which was announced to have been backed with gold), it did not issue any. It also created its own church called Aviva Zoe and many other offshoots including Zoe Burger, a fast food franchise.

Ignacio Trimarco, one of the attorneys that represents more than 70 users affected by Zoe, has qualified this situation as “one of the biggest scams in the history of Argentina.” Other promoters of the company have also been arrested, including Maximiliano Javier Batista, the second in command at Zoe, and Gabriela Alvarez, one of the promoters of the organization.

Let us know your thoughts on Leonardo Cositorto being captured, the ex-CEO of Generation Zoe. Leave a comment below.

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Sergio Goschenko

Sergio, a Venezuela-based cryptocurrency journalist. Sergio is a cryptocurrency journalist based in Venezuela. He says he was late to the party, having entered the cryptosphere during the December 2017 price increase. His background is in computer engineering, but he also lives in Venezuela and was impacted at the social level by the crypto boom. He offers an alternative perspective on the success of cryptocurrency and the benefits it has for the underbanked.

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