The platforms to invest money and multiply it magically are reproduced. After this week the arrest of Leandro Cositortothe founder of Generation Zoethe eyes were on i go business. The company, which offers financial services with an allegedly unprecedented profitability and which is in the crosshairs of the Central Bank of the Nation and the General Inspection of Justice (IGJ), would have issued checks without funds.
As reported by Infobae, Vayo Business S.A.. issued 18 checks in March for $13.9 million that were returned for insufficient funds. In addition, according to the pension records, for two months the company has owed the contributions of its employees.
In July 2021, NOTICIAS told what it was about i go business, the platform that exploded in the media thanks to the promotion made by celebrities on their social networks. The firm was included in an investigation by Baco Central that seeks to determine if the company performs unauthorized financial intermediation tasks, since it is not registered with the National Securities Commission.
In parallel, the IGJ also included it in its own investigation. From the organism they consider that this type of undertakings can mean something more than a pyramid scheme with virtual assets. “The money that leaves the country and the one that returns must be investigated,” stressed an official who acknowledged that there are many more platforms of this type.
It happens that to create this type of company, all you need is a website, a public limited company, a bank account and some type of down payment for the general public. Generation Zoe combined their financial speech with spiritual coaching; Adhemar Capital -a company from Catamarca investigated by the Justice- built its public image based on images of prosperity and luxury cars; and Vayo Business appealed to A-list celebrities for promotion.
Celebrities promoting Vayo Business
It is practically impossible to list the celebrities who promote Vayo. A Twitter user tracked down the posts and managed to count a hundred celebrities. Names such as Candelaria Tinelli, Yanina Latorre, Horacio Cabak or Wanda Nara were included in an extensive thread. The financial promises they repeat are, to say the least, suspect.
List of celebrities and influencers who promoted Vayo-Coin and Vayo-Store. Another “possible” pyramid scam or Ponzi scheme. I have to make a clarification… pic.twitter.com/btp9CJCjPj
– ?? ?? ? Ladri Biker Guru from Rappi de Milei (@ladriguruok) February 21, 2022
For example: Zaira Nara offers you, in their Instagram stories, to invest your savings through i go business and tells you that, in nine months, you can get a 135% profit. Celeste Muriega It tells you that the benefits are the same whether you have pesos or dollars and that, just by presenting your DNI, you can double the investment in eight months. Laura Fernandez The site recommends you to make use of the “pouch” you have saved and tells that she made an investment for 270 days with an interest rate of 15% (without clarifying if it was in pesos or dollars). Floppy Treasure It promises you to beat inflation and even Wanda Nara herself, from Italy, remarks that you are going to obtain “a return that is not being given anywhere.” She sounds tempting, doesn’t she?
NOTICIAS contacted five specialists in the sector (economists, financial advisers and teachers) who asked to speak off-screen and analyzed the promises of quick money from this company. They also warned about the potential risks to which a person who decides to trust the influencers’ advice could be exposed.
The owners of Vayo Business
i go business is a public limited company that was created in November 2011 whose shareholders are Ana Maria Lavitola (which has 95%) and Matias Ezequiel Mansilla (which has 5%). Both declare their domicile in Comodoro Rivadavia and just by googling the name of the majority shareholder, a first alert is lit: the woman’s son, Leandro Usinwas first sentenced by the Buenos Aires Justice to three years in prison for 15 fraud acts and in 2018 an investigation began in the Chubut Justice that the local media titled “The great Gaiman scam”.
“We managed to apprehend him before he left the city of Trelew. He remained in preventive detention throughout the process, a conviction was achieved and reparation was achieved for the seven complainants, ”legal sources confirmed to NEWS. His record would have nothing to do with go Yes Lavitola would not have been mentioned by the victims of usin on the record.
Vayo Business: investments, loans and store
The first question is: what is i go business? On its website, the company presents itself as a space to “access fast financing, with accessible and clear conditions, that allow you to generate a constant flow of circulating money” and offers two alternatives: you can make investments online and access loans . This is the message with which they are presented on their social networks and the one promoted by the famous. Official sources confirmed to NOTICIAS that the company is not registered with the National Securities Commission, a requirement to carry out this type of operation.
Paul Flowers, was the legal representative of the firm when the first NOTICIAS note was published, and had assured that the lack of registration in the CVN was explained by the fact that, in reality, the company is a store. “i go business it’s in a holding company, it’s not just Vayo Business SA That’s why the National Securities Commission. There are other companies that regulate the part of the CNA. Vayo Business basically sells electronic products. For all the other part, there are other companies involved.” The lawyer had said that he was not authorized to give the data of the other companies and some time later he stopped working with Vayo.
Both on the web and on the networks there is a store called Vayo Store that sells products such as video game consoles or keyboards and that worked its advertising with celebrities such as Mauro Icardi. However, at none of the sites i go business reference is made to this business but the company only promotes its services to invest or access credit.
Vayo Business: risks and alerts
The experts consulted underlined that the proposal for i go business, as it is presented in public to its potential clients, raises some doubts. On the subject of investments, they warned about what was mentioned about the CNV, but they also insisted that these sites cannot guarantee a return (only those instruments that are called “fixed return” can guarantee it). In addition, they stressed that there is no information on what the clients’ money is invested in, how their portfolio is composed or what the risks are.
A fact that surprised everyone is that the same profits could be obtained either by investing in pesos or dollars. In mid-2021, the official site of i go business had a profit simulator where it was established that with an investment of $5,000 or US$200, in 30 days, rates of return of 6% were obtained. “No bank in the world offers that”, the specialists had underlined to emphasize that the risks are high. After the publication of the note, in order for a potential client to want to access the earnings simulator, they have to complete a form with their personal data -before it was open-.
With regard to loans, they also pointed out the lack of information regarding the total financial cost and the nominal annual rate, that is, what their clients will pay in interest when repaying the credit obtained. The calculations of the five specialists concluded that the interests are “exorbitant” and that you can end up returning double or more than what was requested.
Give to the authorities of i go business it was not an easy task. Given the first request for an interview, one of the advisers, Fernando, referred NOTICIAS to the developer of the website, who explained that he was not involved in the company. After insisting, this magazine was referred to lawyer Flores, who rejected the possibility of interviewing the majority shareholder: “She is an older person who, although she has a 95% stake, is not the person in total charge of the company. There is a CEO,” he assured, though he said he was also not authorized to say who the latter person was. In addition, Flores insisted again on the idea that Vayo belongs to a holding company. Only the Buenos Aires Factoring SRL logo appears on the Vayo Business site, whose partners are Fernando Nicolás Ramos and Oscar José del Tránsito Osores, and no further details are required on the role each one plays.
i go business It has registered its address at Avenida Corrientes 2763, floor 2, department 8, where the offices of “Sociedades 24 hs.”, a law firm and public accountants that are responsible for incorporating SRL, SA and SAS in just one day. A process as quick and easy as the one that celebrities promise to their followers who want to make their money grow magically.
