A closer look at “New York AG Seeks $1.37B from NovaTech Founders Over Alleged Ponzi Scheme”, exactly as the source publishes it. New York Attorney General Letitia James is seeking $1.37 billion from the founders of NovaTech, a cryptocurrency trading platform, over an alleged Ponzi scheme that defrauded thousands of investors worldwide. The request follows an August 2025 default judgment against Cynthia and Eddy Petion, who failed to respond to the lawsuit filed in June 2024. The AG's office also announced nearly $6 million in settlements with four promoters who helped recruit victims into the scheme.
The case highlights the growing crackdown on crypto fraud and the use of multi-level marketing tactics to lure investors with promises of high returns. The Petions allegedly targeted Haitian and immigrant communities, exploiting trust and religious connections to raise over $1 billion. This listing links straight to the original page, where the content is available in full.