New York AG seeks $1.3 billion from NovaTech founders after default judgment

Cynthia and Eddy Petion fled the US as prosecutors allege their crypto trading platform defrauded over 200,000 investors of more than $1 billion in digital assets New York Attorney General Letitia James is pursuing $1.3 billion in damages from the founders of NovaTechFx after the couple left the United States and a court entered a default judgment against them. The case targets a scheme that prosecutors allege drained more than $1 billion from investors over roughly four years before collapsing in 2023. The default judgment was entered in August 2025, after Cynthia and Eddy Petion failed to appear in court following their departure from the country. Between August 2019 and April 2023, NovaTech collected more than $1 billion in digital asset deposits from investors globally.

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