A Florida court issued an $847,159 judgment against Generation Zoe scammers earlier this month, following a lawsuit brought by sixteen victims from four countries. The ruling from a Dade County Court on March 7th held Zoe Global University and three Florida residents liable for losses sustained by investors in the alleged Ponzi scheme.

Generation Zoe, an alleged cryptocurrency and coaching Ponzi scheme originating in Argentina, collapsed in early 2022. Its founder, Leonardo Cositorto, faces charges in multiple countries. The US lawsuit named Zoe Global University and Pablo, Matias, and Agustin Monteleone as defendants. These individuals served as recruiters for the scheme.

The defendants filed answers last September and December. Plaintiffs moved for judgment on the pleadings January 9th, leading to a March 3rd hearing. The final judgment arrived four days later.

The court determined several facts were undisputed. The Monteleones and Zoe Global University sold investment products. These products gave plaintiffs an expectation of profits derived solely from others' efforts. Such products qualify as securities under the Florida Securities and Investor Protection Act.

None of the defendants were registered with Florida's Office of Financial Regulation. The securities they sold were also never registered with the state. The court found the defendants personally participated in selling these unregistered securities. Plaintiffs paid $847,159 for them and never received returns. The defendants never returned the money.

The court held all defendants jointly liable for the full amount.

Collecting the judgment has proven difficult. Plaintiffs filed a garnishment motion March 21st. They noted the $847,159 remains unpaid, plus 5.52% annual post-judgment interest. They do not believe the defendants have visible property in Florida or Miami-Dade County that can be levied to satisfy the judgment directly.

Plaintiffs suspect a garnishee holds money belonging to Zoe Global University. They believe Zoe Global University acted as a shell company the Monteleones used to recruit victims. They asked for a writ of garnishment against any tangible or intangible property the garnishee controls. The court approved and issued the writ March 29th.

The Zoe Global University defendants appear to have ignored the judgment entirely. A second Motion to Show Cause, filed July 17th, revealed the Final Judgment ordered defendants to complete a Fact Information Sheet under oath within 45 days. This sheet, a standard tool in civil collection, requires a debtor to disclose assets and liabilities. That deadline was April 21st. They did not comply.

Plaintiffs filed a Motion for Order to Show Cause May 9th. A hearing on June 22nd granted the motion and gave defendants until July 12th to complete the sheet. They failed again, placing them in willful violation of the court's June 23rd order.

A hearing was scheduled for August 16th to address the continued non-compliance. Zoe Global University skipped this contempt hearing. On September 22nd, the court ordered the company to pay a $100,000 fine for its repeated failure to comply.

Pablo Monteleone filed for Chapter 11 bankruptcy around February 7th, 2024. Two days later, he filed a Suggestion of Bankruptcy in the Generation Zoe case, requesting a stay on proceedings against him until his bankruptcy case concludes. This action temporarily halts collection efforts against him personally.