New York Asks Court for a $1.37 Billion Judgment Against NovaTech’s Founders

More than 11,000 New Yorkers put money into NovaTech and AWS Mining, an earlier scheme its founders promoted. The state says the two schemes targeted Haitian and other immigrant and religious communities and drew hundreds of thousands of investors worldwide. On Thursday, New York Attorney General Letitia James’s office asked a state court to set the judgment against founders Cynthia and Eddy Petion and their companies at $1.37 billion . The only recovery the state has announced is about $6 million that four promoters agreed to pay, some of it in installments running to 2030. The request covers roughly $1.13 billion in disgorgement plus $232.5 million in prejudgment interest. The judge has not ruled.

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