Technology Zoe has obtained a securities fraud warning from Colombia.

As per the Superintendencia Financiera de Colombia’s March 1st warning;

Generación Zoe isn’t supervised by the Monetary Superintendence of Colombia.

That is the equal of a securities fraud discover in different jurisdictions.

Technology Zoe was a smart-contract Ponzi cycler. The scheme collapsed following a crackdown by Argentine authorities final month.

Technology Zoe’s founder, Leonardo Cositorto, fled Argentina and is needed by Argentine authorities.

As of February twenty third, Cositorto is believed to be hiding within the Dominican Republic.

Argentine authorities declare a world arrest warrant has been issued by Interpol.

In a blow to Colombian victims of Technology Zoe, the SFC has clarified that along with the corporate working illegally in Colombia, they haven’t any intention to manage it.

The merchandise related to this mannequin are hosted overseas and, due to this fact, are exterior the jurisdiction of the SFC.

Which means restoration of stolen funds from native promoters is all however inconceivable inside Colombia.

That is of explicit significance, as Alexa at the moment ranks Colombia as the highest supply of site visitors to Technology Zoe’s web site (35%).

At time of publication Technology Zoe was nonetheless on-line. Pending his arrest, Leonardo Cositorto has floated launching Technology Zoe 2.0.