The national impact of the company accused of pyramid schemes, Generación Zoe, opened the debate on the lack of control of the Argentine Justice in cases of this type, in which more and more people decide to invest all their savings with false promises of growth. Now, when the pot is uncovered on the scams with cryptocurrenciesspecialists exposed this problem and predict a disaster Social if he government no intervenes.
The programmer Javier Smaldon, who was also one of the Twitter users who was in charge of investigating and dismantling the firm chaired by Leonardo Cositorto, brought up this rising problem. “The amount of scams that circulate on the networks is AMAZING. And the number of Argentines who are falling into them. Pyramid schemes, Ponzi schemes, cryptosarase, NFT games, etc. And the authorities and Justice look the other way. This is going to be a disaster”, he mentioned on the social network.
He also insisted that the situation can cause a breakdown in society and a loss of confidence when it comes to investing. “Since I started messing with the #GeneraciónZoe thing (less than 2 months ago), I’ve already seen more than 20. And with victims all over the country. And every day something new appears. When they burst (and they will burst soon, all of them), this is going to cause significant social damage, ”she maintained.
“The CNV, the Central Bank, the AFIP, the IGJ, all looking the other way as a mess cooks up. And Justice (provincial and Federal), waiting until it’s too late. Call me an alarmist, but let’s talk in a couple of months, ”she concluded. A month ago, Smaldone had insisted on the same problem, saying that “either the CNV, the BCRA and the AFIP get their act together with the ‘financial advisors’ who are stapling giles with cryptocurrencies, or this is going to end in a disaster with social and economic impact throughout the country.”
At the same time, he recalled the rebellion in Albania in 1997, unleashed by the collapse of Ponzi scheme pyramid financial systems promoted by the party of Sali Berisha (Democratic Party), belonging to the parliamentary majority bloc. The scam consisted of a series of deposits that generated unrealistically high interest, under the pretext of expanding the credit system. About two-thirds of the Albanian population entrusted their savings, since the system was sponsored by the Democratic Party
By collapsing the scheme, since there was no more possibility to put more people because it is statistically impossible, a third of the Albanian society (1 million people) were left in ruin. The crisis was such that, at the moment that Berisha won the legislative elections, an international conflict broke out that almost ended in a civil war. As a result of the scam, unemployment in Albania exceeded the 25% mark and inflation in July reached 28%. GDP growth, which had had growth rates of between 8 and 11% in previous years, fell below 7% and the national currency suffered a devaluation from 108 to more than 150 lek per dollar.
Scams sponsored by celebrities and politicians
The lack of control is much more evident when entering various profiles of celebrities or influencers from Argentina, such as Yanina Latorre, Candelaria Tinelli, Jimena Baron, Marcelo Polino, among others. In recent months, they have promoted a crypto call Oops Coina digital token created by Vayo Business (financial planner) that is offered as an escape from the inflationary problems of the Argentine market, but also as a way to preserve the value of savings, obtaining profits of 135% in nine months by presenting only the DNI .
Matías Gorganchian, an expert in finance and Bitcoin, warned in October 2021 about this: Here are the two main drivers of the prime time of the last 30 years [Marcelo Tinelli y Susana Giménez], promoting scams: Inbest & Vayo-Coin. The arguments to say that it is a scam is that the company is not registered with the National Securities Commission, a key requirement for this type of operation, and one of the associates, Leonardo Usin, was sentenced to three years in prison for 15 crimes of swindle.
Politics is also linked to companies accused of fraud and illicit association. It is not necessary to go very far to talk about Generación Zoe, in which case he not only had a link with personalities from the PRO, but they even promoted Diego Santilli’s campaign when he was running for national deputy. In this way, trust is earned, but the promises of profits are far from being a reality.
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