New York AG Seeks $1.37 Billion Judgment Against NovaTech and AWS Mining Ponzi Scheme Operators

New York Attorney General Letitia James is pursuing a $1.37 billion judgment against the operators of NovaTech and its predecessor AWS Mining, cryptocurrency schemes that allegedly defrauded hundreds of thousands of investors globally out of over $1 billion. The alleged founders, Cynthia and Eddy Petion, failed to appear in court and fled the country. The schemes targeted immigrant and religious communities through prayer groups and WhatsApp chats, promising guaranteed returns that were actually funded by new investor deposits rather than actual trading.