What is Generation Zoe and how does it work, a business with multiple inconsistencies

Earnings more than attractive with little work and time. This is how the business proposed by Generación Zoe could be defined, the case that has been discussed for months. It is a company that operates in Argentina, Paraguay, Colombia and more countries both in the region and on other continents and that, due to its striking offers, began to raise the suspicion of some.

Generación Zoe is a firm that is part of a network of companies that offers financial education, ontological and spiritual coaching, sponsorship of a soccer team, and more.

Through its virtual wallet, it promises returns in dollars, between 7.5% and 10% per month, reaching up to 120% per year. These numbers are more than attractive when compared to the performance of other recently emerged virtual currencies whose results fail to match these promises.

"You can manage your own virtual wallet in a simple way, which will generate a guaranteed profit from 7.5% to 10% monthly and/or 90% to 120% annually. With the possibility of making compound interest on the capital, therefore, multiply it and further reduce the time it takes to refund your money”, they explain on their website.

“We have been following the actions of the Generación Zoe holding company with concern for some time, especially since the launch of its Zoe Cash cryptocurrency with its supposed gold backing, and we see with great concern some publications with promises of high returns to those who invest their money” sources from the NGO Bitcoin Argentina told La Nación.

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In addition, According to its creator, Leonardo Cositorto, to support the cryptocurrency, Zoe Cash, the brand bought a gold mine. ZOE has a value of US$0.3 and according to Cositorto it will rise almost 20,000% to US$55 in July.

However, his location is confusing since, at first, he would have said that he was in La Quiaca, Jujuy, but then he changed and said that it was in San Juan.

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This currency operates in a single exchange - where they say that it no longer appears and, therefore, it is impossible to resell it - and could be used in fast food outlets such as Zoe Burger, another of its acquisitions, in Olivos.

Along with this, they also inaugurated Zoe Natural, a natural food place; a petshop; acquired the leadership of the Spanish Sports Club; and plans the creation of the Zeo Athletic Club, in Córdoba. By last, offers real estate business with the sale of land in the exclusive private neighborhood in Pilar, La Felicita Polo Club, one of the most expensive in the area that has been for sale since 2010.

To promote his business, Cositorto appeared on television, with interviews on programs such as Los Angeles de la Mañana, on Channel 13; Viviana con Vos, in A24; In the afternoon, in America; and Pampita Online, on NET TV.

The problem lies, however, in the lack of support on some points. Thus, In October 2021, the National Securities Commission (CNV) demanded that the company and its owner immediately cease operations since none of the parties are registered and authorized to operate in the public offering of negotiable securities -something mandatory-.

Given this, Cositorto assured that the procedures to operate as a Settlement and Compensation Agent were underway but, in December, the CNV came out to emphasize that Generación Zoe SA is not a company that is under regulations of the entity nor is it in the process of doing so. , with no procedure started,

For its part, in other countries such as Paraguay, there have also been problems with the company. The CNV of that local country raided the offices in Asunción months ago. They seized documentation, computers and arrested 4 subjects who claimed to be commission agents -those in charge of receiving payments for offering training for Zoe University-.

Also, they issued a statement clarifying that the firm was not registered with the CNV or authorized to carry out a public offering of securities.