New York AG Wants $1.37B From NovaTech Founders in Ponzi Case

New York Attorney General Letitia James has asked a court to compel the founders of the defunct crypto and forex trading platform NovaTech—Cynthia and Eddy Petion—and related entities to pay $1.37 billion tied to a Ponzi scheme. The request follows a default ruling issued after the defendants did not respond to the lawsuit. According to a Thursday court filing, the AG seeks the return of roughly $1.13 billion in investor funds, plus $232.5 million in interest. If granted, the judgment would mark another major enforcement action aimed at recovering losses for victims of NovaTech and a related scheme, AWS Mining.