Key facts:
The new business promises similar benefits to those that Generation ZOE had.
Leonardo Cositorto, CEO of the company, is wanted internationally for fraud.
Leonardo Cositorto, the promoter of the Zoe Cash token and CEO of Generación ZOE, investigated by the Argentine justice system and accused of fraud, appeared on the night of March 9 to make promises of millionaire profits with a new project called Sunrise Coach.
Through a Zoom conference and from an unknown location, Cositorto spoke about the supposed benefits of his venture. Sunrise Coach will be a “three-year smart education system” in which they will accept investments of up to USD 3,600 and each investment will have a return of 7.5% per month, percentage similar to that of Zoe and in addition to 20% in earnings for referrals.
«The expectation is that we will not be more than 20,000 people who, for each sale, will receive USD 100, that is, half of a salary for what is the Latin American average, all outside the banking system, since we will deal with cryptocurrency stable Tether (USDT), explained Cositorto.
When looking for information in the main social networks, no evidence could be found of the existence by Sunrise Coach. It is also unknown if it has or will have a physical headquarters, nor is there a web page where what Cositorto said can be corroborated.
Regarding Zoe Cash and Generación ZOE, Cositorto who presents himself as a specialist in coaching ontological, he said he wasn’t going to continue because of “problems, bribes, and people making stuff up.” He recognized that accounts were frozen in seven banks simultaneouslysomething that generated a “critical situation”.
As well the monthly payment of 7.5% is suspended that was promised to the investors of Generación ZOE, and the capital will be returned in installments, he clarified.
In this sense, he indicated that they are going to analyze the bank accounts that the company has in Argentina and Colombiawhile the next step will be to sign agreements with “investors, favoring those who entered since November.”
«The old was paralyzed and we are going to be fulfilling it over time, renegotiating. To those who want, we are going to pass USD 2,000 to Sunrise. We do not delete ourselves, nor do we steal from anyone. What they have stolen is the hope of the people », he commented.
The Zoe Cash token, from Generation ZOE, is currently priced USD 0.005, after hovering around USD 0.30 on March 8, when the new stage of the business was announced.
Investigation of the Argentine justice
Cositorto, through several companies linked to Zoe Capital —a company that has promoted the Zoe Cash token— began to be investigated at the beginning of last February in Argentina, after multiple allegations of fraudas reported by CriptoNoticias.
The companies investigated are Zoe Sidema, Zoe Capital, Zoe Burger, Zoe Construcciones, Zoe Empowerment, Zoe Generation, Universidad del Trading, Zoe Pizza, Zoe Pets, Transcend, Prioli Construcciones, Zoe Fitnes Gym and Fideicomiso Latam Zoe. All these companies belong to the ZOE business holding which is led by Cositorto.
Later, the same Argentine justice issued an international arrest warrant against Leonardo Cositorto, who was charged with alleged fraud. They were too Several homes and the headquarters of Generación Zoe were raided.
So far, 15 people have been arrested, 5 of them are members of the Argentine police. While, as mentioned at the beginning of the article, Cositorto and his right-hand man Maximiliano Batista are still at large, according to reported an Argentine newspaper.
During his virtual conference, Cositorto insisted on leaving the old behind, probably referring to the trail of complaints against him and his companies in various countries around the world.
Complaints about Generation ZOE
Cositorto’s promises are made through a network of directed companies that have reached several countries in Latin America and Spain.
One of the first countries to address complaints about ZOE was Paraguay. CriptoNoticias reported that the police of that country carried out a raid on the offices of the company Zoe Capital. The reason is that the company allegedly offered investments without having the corresponding authorizations. This entity has ties to the Zoe Cash cryptocurrency.
In Spain there have been protests in front of the ZOE offices, located in the city of Elda, located in the south of the Community of Valencia and which have been closed until now. Among those affected by Cositorto’s company there is a group of 12 people owed more than EUR 350,000according reported a local newspaper.
ZOE generation It also extended its arm to countries like Colombia and Venezuela. In the case of Colombia, despite the accusations against the company and its CEO in Argentina, the local authorities have recognized that Generación Zoe has a license to operate as a coaching university.
In this regard, the Financial Superintendence of Colombia warned a few days ago that the business model of Generación ZOE is not under their surveillance and they clarify that the products associated with the company are located outside that country, therefore, they are outside their jurisdiction.
The call they made was to “assess the risks inherent in operations related to crypto assets before making a decision.”
While, in Venezuela, Generation ZOE, has among its main representatives Mónico Carvajal, which is described in his bill LinkedIn, as a doctor in psychoanalysis and master coach.
In its bill From Instagram, Carvajal shows several of the activities of Generación ZOE in Venezuela and even has photos with Cositorto himself.
It is known that the company opened an office in the city of Maracaibo, to the west of the country, which they have called an emotional health center. Its objective is “to promote the empowerment of leaders through linguistic tools of the coaching ontological,” according to reported a Venezuelan medium.
Even Cositorto visited Venezuela in 2021 to give lectures. Despite the complaints made in several countries against Generación ZOE, the Venezuelan authorities have not mentioned the case and it is unknown if there are any complaints against the company or its representatives in the country.