New York Attorney General Letitia James is seeking $1.3 billion from NovaTechFx founders Cynthia and Eddy Petion after they left the United States and a default judgment was entered against them in August 2025. Prosecutors allege that their cryptocurrency trading platform defrauded more than 200,000 investors of over $1 billion in digital assets between August 2019 and April 2023. Only about $26 million was reportedly traded, while investor returns were paid with deposits from new participants rather than trading profits. The case also targets AWS Mining, a separate cryptocurrency mining scheme that promised high returns and collapsed in 2019. Recovering the damages will be difficult because the defendants are outside U.S. jurisdiction.
Source: Read the original article
