Current outcome
New York Attorney General Letitia James is asking a court to order NovaTech founders Cynthia and Eddy Petion and related companies to pay $1.37 billion; the court entered a default liability judgment in August 2025, four promoters agreed to pay nearly $6 million intended to benefit victims, and a separate request seeks about $6.15 million over AWS Mining.
Progress timeline
2 material updates- #01
New York AG Seeks $1.37B From NovaTech Founders Over Alleged Crypto Ponzi Scheme
New York's Attorney General is seeking $1.37 billion in disgorgement and prejudgment interest from NovaTech founders Cynthia and Eddy Petion, alleging they ran a crypto Ponzi scheme that took in $1.16 billion in deposits while trading only about $26 million and paying early investors with new money.
Source evidence: wublockchainenglish
- #02
New York AG seeks $1.37B from NovaTech founders over Ponzi scheme
The report adds that the court entered a default liability judgment in August 2025 against the NovaTech founders and related companies after they failed to respond; the $1.37 billion request includes about $1.13 billion in investor funds and $232.5 million in interest; four promoters agreed to pay nearly $6 million in settlements; and the AG separately seeks about $6.15 million including interest over AWS Mining.
State after update: New York Attorney General Letitia James is asking a court to order NovaTech founders Cynthia and Eddy Petion and related companies to pay $1.37 billion; the court entered a default liability judgment in August 2025, four promoters agreed to pay nearly $6 million intended to benefit victims, and a separate request seeks about $6.15 million over AWS Mining.
Source evidence: Cointelegraph