Following almost two years of investigation, the Public Prosecutor’s Office in Villa Maria has announced a Generation Zoe criminal trial.

The trial was announced on Wednesday the 14th, following charges against Generation Zoe founder Leonardo Cositorto and twenty-five additional defendants.

Cositorto was arrested in the Dominican Republic in April 2022, following Generation Zoe’s collapse a few months earlier.

Including Cositorto, twenty-three of the suspects have been arrested.

Rosa Mariz Gonzalez Rincon (right) and Hector Luis Yrimia remain wanted fugitives.

Rincon is a Venezuelan national who presented to be Generation Zoe’s trader. Her status and whereabouts remain unknown.

Yrimia is an Argentine national who fled upon learning of pending Generation Zoe criminal charges.

Yrimia remains in Dubai, shielded by local authorities.

Charges pertain to Generation Zoe being a Ponzi scheme, through which over $120 million was stolen and laundered through.

Public Prosecutors have based their case on 173 incidents of fraud involving 76 victims in Villa Maria. The full scope of the Generation Zoe Ponzi scheme still appears to be unclear.

As reported by Clarin, if convicted, Cositorto and his co-conspirators each face at least twenty years in prison. An exact trial date has yet to be announced.

Separately in Spain, authorities in Alicante have arrested Daniel Paterna and his brother Camilo Paterna Lama.

As reported by Information on February 12th, Paterna and Lama are accused of being Generation Zoe’s ringleaders in Spain. Identified assets were frozen by court order on February 8th.

The case is being handed by Spain’s Special Prosecutor’s Office against Corruption and Organized Crime. Filed charges against Paterna and Lama relate to fraud, participation in organized crime and money laundering.

Paterna and Lama laundered Generation Zoe investor funds to Andorra, the UK, Estonia and Italy. At least one property purchase has been identified.

After Generation Zoe collapsed, Daniel Paterna purportedly told his victims he “didn’t have a cent to cover anything”.

If convicted, the Paterna and Lama are facing nine to twenty-one years in prison.