An Argentine court has sentenced Leonardo Cositorto, the founder of Zoe Generation, for the crimes of fraud and illicit association in the province of Corrientes. This ruling comes after Judges Ricardo Carbajal, Jorge Carbone, and Julio Duarte declared him guilty. As a result, Cositorto and his partners, Miguel Ángel Echegaray, Maximiliano Javier Batista, and Lucas Damián Camelino, were given an 8-year prison sentence.
While the conviction is not yet firm, and the defendants can still appeal the ruling, Cositorto must return to Bower prison in Córdoba, where he was detained before the trial began. In his final words before the penalty reading, a visibly shaken and tearful Cositorto claimed, “We never had the intention of cheating anyone.” He also apologized to Judge Ricardo Carabajal for his outburst when he was initially convicted, stating that his anger was directed at corruption, bribery, and lies, rather than authority.
Cositorto further requested an “independent justice” and a “fair institution” that would consider him and his partners, reiterating that they didn’t receive any money and emphasizing their innocence. He concluded by saying, “We never had the intention of cheating anyone, we always thought big, but we always stayed simple, studying.”
What is Zoe Generation?
Zoe Generation was a company that presented itself as a coaching and leadership firm, offering courses and even cryptocurrency services. Initially, customers were drawn in by the promise of ontological, spiritual coaching, and financial education services in exchange for a contract. Those who joined the organization invested their money and received a monthly income that was higher than what other investments typically offered. Additionally, they were told that this guaranteed gain could increase if they brought in more “investors” to the network. In reality, this was a pyramid scheme that victimized thousands of people in Argentina and dozens in Uruguay.