The Nationwide Securities Fee (CNV) of Argentina issued a decision during which it acquits Leonardo Cositorto and the Zoe technology firm of a number of positions associated to the breach of the Securities Regulation.
This determination 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 response to the CNV, Cositorto and Era Zoe behaviors didn’t configure “an reverse work to the requirements” of values in Argentina. The particular decision that articles 47, 82 and 117 of the capital market legislation weren’t breached; in addition to article 59 of the Societies Regulation.
These articles regulate facets reminiscent of 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 Era are launched, A interval during which 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 conclusion of an irregular public supply, in addition to monetary intermediation with out authorization, the dearth of transparency and attainable fraud, Along with infractions to the capital market legislation.
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 felony discipline. That’s, this administrative acquittal doesn’t essentially have an effect on or concludes separate felony investigations that may very well be ongoing in different judicial situations.
Cositorto and technology Zoe proceed to face accusations of fraud in a number of Latin American international locations. As cryptootics reported, they’re accused of getting attracted traders with Guarantees of Profitability via the sale of cryptocurrencies and different monetary merchandise, With out fulfilling promised return expectations.
The trial towards Cositorto and technology Zoe was resumed this Tuesday, February 4, specializing in the felony accusations which are nonetheless in power. This authorized course of develops no matter administrative acquittal by the CNV, highlighting the separation between administrative and felony duties.
(tagstotranslate) Argentina
