NovaTech Crypto Scandal: New York AG Targets Founders for $1.3 Billion

TLDR: The New York Attorney General requested a court order for a $1.3 billion judgment against NovaTech founders Cynthia and Eddy Petion. The judicial office secured nearly $6 million in financial settlements with four of the key promoters of the fraudulent network. The platform raised over $1 billion globally between August 2019 and May 2023, impacting more than 11,000 investors in New York State. New York Attorney General Letitia James requested a judicial court to impose a $1.3 billion financial judgment against the fugitive founders of NovaTech . With this action, the legal process surrounding the crypto scandal starring NovaTech —which collapsed after operating for four years under a structured pyramid scheme—intensifies.

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