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Saturday, February 4, 2023

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

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Interpol Apprehends CEO of Generation Zoe, an Alleged Cryptocurrency Scam in Argentina – One of the most wanted men associated to the Generation Zoe operation, one of Argentina’s largest accused pyramid schemes, has finally been apprehended.

Leonardo Cositorto, the former CEO of generation Zoe, was arrested by Interpol in the Dominican Republic this week as the outcome of a tracking operation carried out by Dominican police and international police personnel (Interpol).

The authorities were able to track Cositorto’s position thanks to the IP data he left while promoting a new venture called Sunrise Coach on social media.

Also Read: Germany Shuts Down Hydra Market, Seizes Servers and Bitcoin

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Investigators had been watching Cositorto’s daily broadcasts to look at the background pictures in the footage, according to the authorities. They were able to determine that the landscapes depicted were similar to those found in Santo Domingo, the Dominican Republic’s capital.

Cositorto was caught in a hotel in the area and will face charges of fraud in connection with the Generation Zoe case. The man has been on the run since February, when he fled the country and crossed into the Dominican Republic illegally.

Cositorto’s parent firm, Generation Zoe, began as a coaching tool for people five years ago. As the organization evolved, it added a financial arm that relied on donations from supporters.

These funds created earnings for them, which the firm promoted as “secure.” These funds were allegedly obtained through investments in a variety of industries, including mining, health, automobile sales, real estate, beauty, and soccer.

The corporation even launched its own cryptocurrency, Zoe Cash, which is said to be backed by gold. The organization went on to form its own church, Aviva Zoe, as well as a number of other subsidiaries, including the Zoe Burger fast-food franchise.

Also Read: Trends Study Says Dogecoin Is the Most Googled Cryptocurrency in the US

Ignacio Trimarco, one of the attorneys representing more than 70 Zoe victims, described the incident as “one of the largest scams in Argentina’s history.” Other firm promoters have been arrested, including Maximiliano Javier Batista, Zoe’s second in command, and Gabriela Alvarez, one of the organization’s promoters.

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