The Table
@latablablog
#Scam Company with cryptocurrency #ZoeCash uncovered in Argentina had already attracted investments in 14 cities in Venezuela and opened an office in #Maracaibo.
Leonardo Nelson Cositorto, owner and leader of #GeneraciónZoe, is a fugitive and is wanted by Interpol for illicit association and fraud. He was summoned by prosecutor Juliana Companys from Villa María, Córdoba, after creditors from that city reported the company for non-payments.
They promoted the “Trading University S.A” and its cryptocurrency #ZoeCash, holding meetings with unsuspecting individuals in Caracas, Valencia, Maracaibo, Puerto La Cruz, San Cristóbal, Barquisimeto, Margarita, Cumaná, Valera, San Felipe, Boconó, La Puerta, and Ciudad Bolívar (OCT 2021/JAN 2022).
They recently set up an office in the C.C Montielco, in #Maracaibo, on the first floor. They call it an emotional health center, aiming to “empower leaders through the linguistic tools of ontological coaching.”
Alongside motivational courses and teachings about cryptocurrency trading, Cositorto claimed that ZoeCash would skyrocket nearly 20 thousand% (from a “phantom value” of $USD 0.3 to $USD 55) in the next few months.
The self-proclaimed president of the World Coaches Confederation assured that with just a $500 investment, the company would gift a 20% bonus – “through trading, finance, and markets” – promising 7.5% monthly interest! “and even 10% depending on your membership.”
Additionally, he promoted a “robot” that supposedly offers 100% interest on the invested capital in just 3 months… with an investment of $1,500. They also offered bonuses and compensation for recruiting new members. The supposed backing for the digital asset was “a gold mine” in southern Argentina.
In reality, this is a pyramid scheme – known as a #Ponzi scheme – which relies on convincing people to hand over money (in this case, by purchasing #ZoeCash cryptocurrency) and encouraging them to invite new participants into the circuit for greater benefits.
Cositorto established this network in Colombia, Argentina, Mexico, Peru, Ecuador, Venezuela, Bolivia, and the Southern United States, all without being authorized to participate in the financial industry in his own country (as clarified by Argentina’s National Securities Commission, CNV).
The crypto community had already indicated ZoeCash’s proposal was untrustworthy, as it spiked nearly 38% in just one day but was unsellable, making its price entirely fictitious. This is what is known as a frozen token because there is no supply to match the demand.
Even though Cositorto was accused of public offering and irregular intermediation within the Argentine capital markets and is sought by Interpol, the fugitive continues to hold Zoom talks each night. He offers “intimate coaching” sessions and requests more funds from his followers.
In Venezuela, the “country representative” of #GeneraciónZoe is Blanca Elena Torres, according to a note on the Versión Final website about the opening of the Maracaibo office on September 1, 2021. A radio interview in June mentioned that Torres hails from La Puerta, Trujillo state.
The operation of #ZOE is based on a form of “secular religion” (which could be likened to the “prosperity gospel” from evangelical sectors like pastor Bertucci) called “ontological coaching,” promising salvation, or wealth, solely through “declaration.”
This is why the leaders of the “business” in Venezuela present themselves as specialists in “emotional health.” Along with Blanca Torres, local team members include Patricia Sulbarán and Diry Navas. Also involved is Mónico Carvajal, the highest-ranking #ZoeFamilia promoter.