Overview
- The attorney general announced on October 22 that her office recovered about $5.98 million in settlements from four promoters and permanently barred them from securities, commodities, and cryptocurrency work.
- A New York court entered a default judgment against founders Cynthia and Eddy Petion on August 4, 2025 after the couple left the U.S. and did not respond to the state's June 2024 suit.
- Prosecutors asked the court to award $1.134 billion in disgorgement plus about $232.5 million in prejudgment interest for NovaTech and roughly $6.15 million for the earlier AWS Mining operation.
- Investigators say NovaTech took about $1.16 billion in investor crypto while only about $26 million reached its trading platform, and court records allege at least $134.5 million was transferred from company wallets to the founders' wallets.
- The schemes allegedly recruited heavily in Haitian and other immigrant communities through churches, social networks, and private messaging, leaving thousands locked out of accounts and complicating efforts to identify victims and recover assets.