New York Attorney General Seeks More Than $1.367 Billion From Crypto Platform NovaTech: More Than 11,000 New Yorkers Victimized
According to an Oct. 24 report, New York Attorney General Letitia James filed a motion in state court on Oct. 22 seeking more than $1.367 billion from crypto investment company NovaTech, its founders Cynthia Petion and Eddy Petion and related parties, based on a default judgment entered in 2025. The amount includes about $1.135 billion in principal and about $232 million in interest; the principal derives from about $1.16 billion in cryptocurrency deposited by investors, less about $26 million that was actually transferred to a trading platform. The state says NovaTech and the related AWS Mining scheme caused more than 11,000 New Yorkers to lose tens of millions of dollars, recruiting investors through prayer groups, social media and WhatsApp groups targeting immigrant and religious communities, with Haitian New Yorkers hit especially hard. The state argues that withdrawals by later investors should not be deducted from the amount NovaTech must repay. Under a separate arrangement announced Oct. 22, promoter Frantz Ciceron and three others together bear payment obligations of nearly $6 million, with Ciceron alone owing $2 million, including $850,000 due within 30 days and $125,000 each Dec. 31 from 2026 through 2029.
Source: GSM · USA (original Chinese edition)
Photo: 图：纽约州议会大厦（资料图）。照片：Wikimedia Commons（CC BY 3.0）。the New York State Capitol (file photo). Photo: Wikimedia Commons (CC BY 3.0).
