The National Securities Commission (CNV) has acquitted Leonardo Cositorto, Generación Zoe, and the University of Trading after three years of investigation, concluding that no capital market laws were violated. According to the regulatory body, neither Cositorto nor the companies operated with bonds, stocks, or other negotiable securities, making them unable to impose sanctions.
Despite this decision, Leonardo Cositorto remains detained and the trial against him for fraud and illegal association is ongoing. In a statement, the CNV mentioned that the information initially gathered before opening the investigation suggested a possible gathering of public savings using methods within its regulatory scope, although they clarified that this acquittal does not preclude judicial responsibility.
Generación Zoe, Cositorto's company, offered a trust promising high returns in dollars to its clients and encouraged the purchase of a cryptocurrency called Zoe Cash, supposedly backed by gold.
