New York Attorney General Letitia James asked a state court on October 22 to order cryptocurrency investment company NovaTech, its founders Cynthia and Eddy Petion, and related companies to pay 1,367,023,585 dollars, including interest, over the fraud against investors. The request follows an August 4, 2025 ruling finding the defendants liable, with the amounts of investor damages and disgorgement still to be determined through written submissions. According to the state, more than 11,000 New Yorkers lost tens of millions of dollars in the NovaTech and AWS Mining schemes, which targeted immigrant and religious communities through prayer groups, social media and WhatsApp. The amount sought includes approximately 1.161 billion dollars in identified investor deposits, less 26 million dollars transferred to a trading platform, plus 232,473,894 dollars in interest. Separately, nearly 6 million dollars in promoter obligations does not mean that money has already been distributed to victims, and Frantz Ciceron’s payment schedule includes four installments of 125,000 dollars through December 31, 2029.
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