Leonardo Cositorto, accused of leading the Generación ZOE pyramid scheme, was presented this week before Regional Unit 8 of Goya, in the city of Corrientes, in Argentina, to be prosecuted. The process, which could last until December 11, marks a new chapter in one of the most high-profile cases of cryptocurrency scams in the region.
Cositorto came to trial with a bulletproof vest and under heavy guard. Along with him, Miguel Ángel Echegaray and Maximiliano Batista, will be transferred from the Bouwer prison to remain detained during the judicial process. Other defendants, Lucas Damián Camelino, Nicolás Ismael Medina and Javier Sebastián Medina, will be released.
The court, chaired by Judge Ricardo Carbajal, will count with the vocals Jorge Carbone and Julio Duarte. Prosecutors Juan Carlos Castillo and Rubén Barry will be in charge of prosecuting the case, while lawyers Pablo Andrés Fleitas and Alejandra Soledad Fleitas will represent the complaint.
The prosecution, the complaint and the defense have summoned a total of 166 witnesses for the hearings. This high number of witnesses underscores the complexity and scope of the case, which has left a deep mark on the community and financial markets in the region.
ZOE Generation was one of the largest scams of its kind, spreading to several Latin American countries and Spain. In 2022, the organization collapsed, leaving thousands of people without their investments. The scheme promised high profits through the buying and selling of cryptocurrencies, using referrals that incentivized users to recruit more participants.
Last year, Leonardo Cositorto sent a strong message to the victims of Generación ZOE, stating: “Forget that you are going to get your money back.” This statement, reported by CriptoNoticias, reflects Cositorto’s attitude towards the thousands of people affected by its scheme.
Leonardo Cositorto, identified as the leader of Generación ZOE, was the one who gave a face and voice to this organization. In the midst of the scandal, Cositorto was arrested in the Dominican Republic in April 2022, accused of pyramid scheme and illicit association. His arrest was the result of a collaboration between Interpol and Argentine judicial authorities, who worked to locate him after months of being a fugitive from justice.
The extradition of Cositorto from the Dominican Republic to Argentina did not occur under a formal extradition agreement, since there is no specific agreement between both countries for this. However, thanks to a cooperation agreement in fugitive cases, Cositorto was transferred to Argentina to face the charges.
Adding up all the possible convictions on charges of fraud and illicit association, and taking into account the transnational nature and volume of the scam, it is speculated that Cositorto could face more than 20 years in prison. This calculation is based on the accumulation of sentences for the different crimes and the possibility of them being considered in real or ideal competition according to Argentine criminal legislation.
This article was created using artificial intelligence and edited by a human Editor.