Following almost two years of investigation, the Public Prosecutor’s Office in Villa Maria has announced a Generation Zoe criminal trial.

The trial was announced on Wednesday the 14th, following charges against Generation Zoe founder Leonardo Cositorto and twenty-five additional defendants.

Cositorto was
arrested in the Dominican Republic
in April 2022, following
Generation Zoe’s collapse
a few months earlier.

Including Cositorto, twenty-three of the suspects have been arrested.

Rosa Mariz Gonzalez Rincon (right) and Hector Luis Yrimia remain wanted fugitives.

Rincon is a Venezuelan national who presented to be Generation Zoe’s trader. Her status and whereabouts remain unknown.

Yrimia is an Argentine national who
fled
upon learning of pending Generation Zoe criminal charges.

Yrimia remains in Dubai,
shielded by local authorities
.

Charges pertain to Generation Zoe being a Ponzi scheme, through which over $120 million was stolen and laundered through.

Public Prosecutors have based their case on 173 incidents of fraud involving 76 victims in Villa Maria. The full scope of the Generation Zoe Ponzi scheme still appears to be unclear.

As
reported by Clarin
, if convicted, Cositorto and his co-conspirators each face at least twenty years in prison. An exact trial date has yet to be announced.

Separately in Spain, authorities in Alicante have arrested Daniel Paterna and his brother Camilo Paterna Lama.

As
reported by Information
on February 12th, Paterna and Lama are accused of being Generation Zoe’s ringleaders in Spain. Identified assets were frozen by court order on February 8th.

The case is being handed by Spain’s Special Prosecutor’s Office against Corruption and Organized Crime. Filed charges against Paterna and Lama relate to fraud, participation in organized crime and money laundering.

Paterna and Lama laundered Generation Zoe investor funds to Andorra, the UK, Estonia and Italy. At least one property purchase has been identified.

After Generation Zoe collapsed, Daniel Paterna purportedly told his victims he “didn’t have a cent to cover anything”.

If convicted, the Paterna and Lama are facing nine to twenty-one years in prison.

Update 20th October 2024 – 
The first Generation Zoe trial
kicked off in Goya
on October 16th.

🤖 Quick Answer

What is the Generation Zoe criminal trial announcement?
Argentine authorities have announced a criminal trial against Generation Zoe founder Leonardo Cositorto and twenty-five additional defendants following nearly two years of investigation by the Public Prosecutor's Office in Villa Maria, addressing the collapse of the investment scheme.

Who is Leonardo Cositorto?
Leonardo Cositorto is the founder of Generation Zoe, arrested in the Dominican Republic in April 2022 following the scheme's collapse. He faces criminal charges alongside twenty-five other defendants in an Argentine court proceeding.

What is the status of the accused individuals?
Twenty-three of the twenty-six defendants, including Cositorto, have been arrested. Two fugitives remain at large: Rosa Mariz Gonzalez Rincon, a Venezuelan trader, and Hector Luis Yrimia, an Argentine national who fled upon learning of charges.

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