Generacion Zoe was an Argentine cryptocurrency Ponzi scheme founded in 2017 by Leonardo Cositorto, a charismatic evangelical pastor, stock trader, and self-described 'ontological coach.' The scheme promised investors returns of up to 7.5% monthly through AI-powered trading robots and a gold-backed cryptocurrency, attracting over 10,000 investors who deposited hundreds of millions of dollars.
Behind its facade of crypto trading technology, Generacion Zoe operated as a classic pyramid scheme. Over 2020 and 2021, the scheme expanded rapidly across Argentina and into other Latin American countries. The operation collapsed in early 2022, leaving at least $120 million in losses for tens of thousands of victims across multiple countries.
Cositorto was apprehended by Interpol after fleeing Argentina. In 2025, he was sentenced to 12 years in prison as the leader of Argentina's largest-ever pyramid scheme. Co-conspirators Miguel Angel Echegaray, Maximiliano Javier Batista, and Lucas Damian Camelino received eight-year sentences. A key associate, Rosa Maria Gonzalez, was later arrested in Venezuela after allegedly escaping with $56 million in Bitcoin.
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