Leonardo Cositorto, a Generation Zoe scammer, has had his third bail request denied. The hearing for Cositorto was held on Thursday. The court made its decision based on “no changes in the case.” Cositorto recently complained about the conditions in the prison where he was being held.   

“Everything here is disgraceful, from the food to the cockroach insecticides.   

On mattresses, people sleep in pairs. They sleep beneath the beds. There are no restrooms in this building.   

I urinated on top of the cardboard. They don’t even give you toilet paper for five days, and if you say anything, you’ll be sanctioned.”   

Officials at the prison have denied Cositorto’s claims.   

In the run-up to his hearing, Cositorto also claimed that Argentina’s legal system is riddled with “corruption, extortion, and manipulation.” In the case of Cositorto, no evidence has been presented to support these claims.

Generation Zoe was a straightforward MLM crypto Ponzi scheme. Cositorto fled to Argentina when it failed. This has most likely contributed to his repeated bail requests being denied. As is unfortunately common in MLM Ponzi schemes, victims of the scheme have rallied around Cositorto, refusing to admit they’ve been duped.

To that end, the ringleaders of Generation Zoe managed to swindle another $190,000 from investors. The money was supposed to be used to secure Cositorto’s release.

According to Clarin, those funds have since “disappeared.” This group of Generation Zoe investors is said to hold daily Zoom webinars and to populate Telegram and WhatsApp groups.

In these echo chambers, they deny basic math while maintaining Cositorto’s innocence. Clarin also points out that if Cositorto is released from Bouwer Prison, parallel criminal cases have been filed against him in two other jurisdictions, which will almost certainly result in his immediate re-arrest upon release.

Argentine police continue to investigate Cositorto and local Generation Zoe scammers. Authorities obtained an arrest warrant for Javier Sebastián Medina, a Generation Zoe ringleader in Goya, earlier this week.

Authorities claim Medina has been attempting to conceal assets and evidence of Generation Zoe fraud. Medina is set to appear in court on Tuesday.

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