SEC Charges NovaTech Promoter with 650 million Dollar Cryptocurrency Ponzi Scheme
The Securities Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its principals, Cynthia and Eddy Petion, accusing them of organizing a cryptocurrency fraud that defrauded more than 200,000 investors worldwide, including many Haitian Americans.
The SEC complaint details that, under the leadership of the petition, NovaTech was promoted as a multi-level marketing (MLM) and crypto asset investment scheme.