In another surprising turn and from the underground, Leonardo Cositorto simultaneously announced the closure of the suspected Generation Zoe and the creation of Sunrise Coach, a new digital platform that offers “more aggressive offers” to investors. With an international arrest warrant for alleged repeated fraud and illicit association, the leader of the holding company reported that will no longer pay the return of 7.5% in dollars to Zoe’s saverswho claim their money back.
Precisely for this reason, the prosecutor’s office of the Cordoba town of Villa María has already arrested 15 people from that organization. For now, the only two fugitives are Cositorto and his partner, Maximiliano Batistawhose whereabouts are unknown. On Tuesday night and by Zoom, he explained that “obviously you cannot continue paying more” and that “the previous platform is still from today in relation to payments, that is, there is no more 7.5%“, he said, referring to the monthly return offered to depositors.
Cositorto faces at least two criminal cases in Argentina. But it is also investigated in other countries, like Paraguay and Colombia, for putting together a pyramid scheme based on the promise of returning the capital invested in coaching courses, with interests well above the market. In addition to an extra percentage for each client entered. If that does not happen, experts explain, the system collapses.
According to Cositorto, Generación Zoe had close to 100,000 investors at its peak. Many of them stopped charging interest nor can they recover the capital invested. Regarding this, the head of the holding company pointed out that “we have had some internal problems” and confusedly argued that “there have been bribes, accounts have been violated, things have been invented, so unfortunately we have to check account by account, especially all in Argentina and in Colombia”.
Since he is a fugitive, presumably in a Caribbean country, Cositorto has live presentations both by Zoom and by a YouTube channel. With a confusing language, at times mystical, complemented with Power Point full of misspellings (something that has not yet been classified as a crime), said that his failed holding company was the victim of a conspiracy of politicians, businessmen, the media, some of his subordinates and Twitter users.
In his last appearance and with promises to pay Zoe’s old investors in installments, Cositorto launched his new 100% digital company. “Upon moving to the new Sunrise platform, all registrants will be charged $2,000 and they will charge 7.5% renewable in their wallets on the 15th of each month“. All in exchange for offering ontological coaching courses, whose costs (memberships) are computed as an investment. He promised his followers that with Sunrise they will try to recover what was lost.
With his usual verbiage, Cositorto also spoke about the future of “Zoe Cash”, a cryptocurrency that he launched last year, which came to trade at US$0.30 and is now almost worthless. “The Zoe Cash coin is not changed, it continues to work and in fact this Friday we have a meeting and signing in Medellin for its World projection!”, He proclaimed enthusiastically.