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 Legislation.
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 keeping with the CNV, Cositorto and Technology 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 Legislation.
These articles regulate elements corresponding to the general public provide 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 in opposition to Cositorto and Zoe Technology are launched, A interval during which there was a change of presidency and authorities within the CNV.
The primary grievance in opposition to them was offered in April 2022, accusing them of a number of crimes, together with the belief of an irregular public provide, in addition to monetary intermediation with out authorization, the shortage of transparency and doable 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 could possibly be occurring in parallel within the prison area. That’s, this administrative acquittal doesn’t essentially have an effect on or concludes separate prison investigations that could possibly 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 buyers with Guarantees of Profitability by means of the sale of cryptocurrencies and different monetary merchandise, With out fulfilling promised return expectations.
The trial in opposition to Cositorto and technology Zoe was resumed this Tuesday, February 4, specializing in the prison accusations which might be nonetheless in power. This authorized course of develops no matter administrative acquittal by the CNV, highlighting the separation between administrative and prison tasks.
(tagstotranslate) Argentina
