New York Attorney General Letitia James asked a court to order NovaTech’s founders, Cynthia and Eddy Petion, and related companies to pay about $1.37 billion over the defunct trading platform’s Ponzi scheme. The request seeks about $1.13 billion in investor funds and $232.5 million in interest; it is not a payment order. The court found the defendants liable by default in August 2025 after they did not respond to the lawsuit.
The filing says investors deposited about $1.16 billion into NovaTech’s crypto wallets from August 2019 to May 2023. According to the attorney general, only about $26 million went to its trading provider for trading. A separate request seeks about $6.15 million, including interest, over the earlier AWS Mining scheme. The attorney general’s office had not answered questions about how recovered funds would reach victims or how a judgment could be enforced.
