The Nationwide Securities Fee (CNV) of Argentina issued a decision wherein it acquits Leonardo Cositorto and the Zoe era firm of a number of positions associated to the breach of the Securities Regulation.
This resolution was formalized within the RRFCO-2025-290 decision, of January 22, 2025, which establishes the executive acquittal to the entity and its director of sure positions regulated by the CNV.
In accordance with the CNV, Cositorto and Technology Zoe behaviors didn’t configure “an reverse work to the requirements” of values in Argentina. The precise decision that articles 47, 82 and 117 of the capital market regulation weren’t breached; in addition to article 59 of the Societies Regulation.
These articles regulate features resembling the general public supply of negotiable securities, the duty to tell the CNV about monetary operations and the regulation of the intermediation of securities.
This acquittal decision is understood greater than three years after the primary accusations towards Cositorto and Zoe Technology are launched, A interval wherein there was a change of presidency and authorities within the CNV.
The primary criticism towards them was offered in April 2022, accusing them of a number of crimes, together with the belief of an irregular public supply, in addition to monetary intermediation with out authorization, the shortage of transparency and potential fraud, Along with infractions to the capital market regulation.
Regardless of the acquittal of positions by the CNV, this doesn’t shut the door to different authorized investigations or actions that may very well be occurring in parallel within the legal area. That’s, this administrative acquittal doesn’t essentially have an effect on or concludes separate legal investigations that may very well be ongoing in different judicial situations.
Cositorto and era Zoe proceed to face accusations of fraud in a number of Latin American nations. As cryptootics reported, they’re accused of getting attracted traders with Guarantees of Profitability by means of the sale of cryptocurrencies and different monetary merchandise, With out fulfilling promised return expectations.
The trial towards Cositorto and era Zoe was resumed this Tuesday, February 4, specializing in the legal accusations which might be nonetheless in pressure. This authorized course of develops no matter administrative acquittal by the CNV, highlighting the separation between administrative and legal duties.
(tagstotranslate) Argentina
