New York Attorney General Letitia James has asked a court to order NovaTech founders Cynthia and Eddy Petion and related companies to pay $1.37 billion over a Ponzi scheme. The request covers the return of approximately $1.13 billion in investor funds and $232.5 million in interest following a default judgment issued in August 2025 after the defendants failed to respond to the lawsuit. According to the attorney general, investors deposited approximately $1.16 billion into NovaTech’s crypto wallets between August 2019 and May 2023, but only about $26 million was deposited with trading provider B2Broker. Four promoters separately agreed to pay nearly $6 million in settlements intended to benefit victims, while a separate motion seeks $6.15 million, including interest, over AWS Mining. More than 11,000 New Yorkers lost tens of millions of dollars through NovaTech and AWS Mining, which collapsed in 2023 and 2019, respectively.
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