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

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

Interpol has managed to apprehend Leonardo Cositorto, the former CEO of Generation Zoe, one of the biggest alleged financial and crypto scam platforms in Argentina. Cositorto was reportedly arrested this week in the Dominican Republic, where he was in charge of a similar platform called Sunrise Coach. He will now be extradited to Argentina. Leonardo Cositorto Arrested in the Dominican Republic

One of the most wanted men linked to the operation of Generation Zoe, one of the largest alleged pyramid schemes in Argentina, has at last been located. Interpol arrested Leonardo Cositorto, the former CEO of generation Zoe, this week in the Dominican Republic as the result of a tracking operation carried out by the Dominican police and officers of the international police (Interpol).

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. The authorities revealed that investigators had surveilled the broadcasts Cositorto made on a daily basis to examine the background images in these videos. In this way, they were able to find out that the landscapes shown were consistent with the ones found in Santo Domingo, the capital of the Dominican Republic.

Cositorto was found in a hotel in the region and will have to face scam charges linked to the Generation Zoe case. The man was a fugitive since February when he abandoned the country and managed to enter illegally into the Dominican Republic. Generation Zoe

Generation Zoe, the company to which Cositorto is linked, started as a coaching aid for people five years ago. The organization grew, and it included a financial arm, that used funds deposited by supporters. These funds generated earnings for them, that were advertised as “secure” by the company. These earnings supposedly came from investments in different fields, including mining, car sales, health, aesthetics, real estate, and soccer.

The company even issued its own cryptocurrency called Zoe Cash, which was announced as being backed by gold. The organization further created its own church, named Aviva Zoe, and many more offshoots, including a fast-food franchise called Zoe Burger.

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. Tags in this story alleged scam, Argentina, Cryptocurrency, generation zoe, leonardo cositorto, zoe cash

What do you think about the capture of Leonardo Cositorto, former CEO of Generation Zoe? Tell us in the comments section below. Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Russia’s Sberbank Denies Involvement in Recently Launched ‘Sbercoin’ NEWS | 1 hour ago Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin NEWS | 5 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSpanish Securities Watchdog Calls for Search Engines, Social Network Operators to Stop Promoting Unregistered Investment Platforms Next articleBitcoin, Ethereum Technical Analysis: BTC Falls Below $45,000 Ahead of FOMC Minutes, ETH Extends Recent Losses Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3

On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.NFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC 19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found Bandai Namco Announces Gundam Themed Metaverse