Overview
- New York Attorney General Letitia James asked a judge to order about $1.367 billion in disgorgement and prejudgment interest from Cynthia and Eddy Petion, the filing breaks the request into roughly $1.1345 billion in disgorgement and $232.47 million in interest.
- A court entered a default judgment in August 2025 that barred the Petions from securities, commodities and crypto activities after they failed to respond to the state lawsuit and reportedly left the United States.
- Investigators say CoinPayments records show roughly $1.16 billion flowed into NovaTech between 2019 and 2023 while only about $26 million reached the trading platform and roughly $18.2 million was lost in trading.
- The AG announced on October 22 that four top promoters agreed to settlements totaling about $5.98 million and accepted permanent bans from securities, commodities and cryptocurrency industries.
- Practical recovery faces big hurdles because the founders appear to have left U.S. jurisdiction, the state says the required investor records were not produced, and a court must still rule on the monetary award before any victim distributions can begin.