NY AG Pursues $1.37B From NovaTech Founders Over Alleged Ponzi

New York Attorney General Letitia James has moved to recover more than $1.3 billion connected to the NovaTech crypto and forex trading scheme, asking a court to require NovaTech’s founders, Cynthia and Eddy Petion, and related entities to pay $1.37 billion. The request includes the return of roughly $1.13 billion in alleged investor funds plus $232.5 million in interest, according to a court filing submitted Thursday. The lawsuit’s procedural path has been swift. In August 2025, the court found the Petions and affiliated companies liable by default after they did not respond to the claims.