NY State Seeks Over $1.3B from NovaTech Founders in Ponzi Scheme Case
Current overview (not historical)
New York Attorney General Letitia James is seeking a court order to hold Cindy and Eddie Pedon, the founders of the defunct NovaTech, and associated companies accountable for over $1.37 billion in losses from a Ponzi scheme. The court previously found the Pedon couple and their companies liable in August 2025 due to the defendants' failure to respond to the lawsuit. The case involves NovaTech collecting approximately $116 million in investments between August 2019 and May 2023. The Pedon couple has fled outside the US. Meanwhile, four top promoters have reached a settlement worth nearly $6 million to benefit victims.
Written with AI from the reporting · updated 10/24/2026
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- 1Unclassified fact stationOct 23, 00:00recorded Oct 23, 18:38single source
纽约州寻求从NovaTech创始人处追回13亿美元
Read original source ↗ The BlockReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- NovaTech
- Action：
- 资金追回
- Object：
- NovaTech平台
- Occurred (fact side)：
- Oct 23, 00:00
- Published (valid side)：
- Oct 23, 18:12
- First seen (known side)：
- Oct 23, 18:38
Fact stationSingle source · one-sided claimCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 2Unclassified fact stationOct 23, 00:00recorded Oct 23, 20:56single sourcerevised
纽约州检察长起诉NovaTech Ponzi方案索赔1.37亿美元
Read original source ↗ CointelegraphReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- NovaTech
- Action：
- 纽约州检察长寻求法院命令
- Object：
- NovaTech的创始人Cynthia和Eddy Petion及关联公司
- Occurred (fact side)：
- Oct 23, 00:00
- Published (valid side)：
- Oct 23, 20:33
- First seen (known side)：
- Oct 23, 20:56
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 3Unclassified fact stationOct 24, 00:00recorded Oct 24, 00:42single sourcerevised
纽约州长追讨NovaTech诈骗案赔偿1.37亿美元
Read original source ↗ DecryptReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- Cynthia and Eddy Petion
- Action：
- 被判赔偿
- Object：
- NovaTech诈骗受害者
- Occurred (fact side)：
- Oct 24, 00:00
- Published (valid side)：
- Oct 24, 00:31
- First seen (known side)：
- Oct 24, 00:42
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 4Unclassified fact stationOct 24, 00:00recorded Oct 24, 06:18single source
纽约州检察长寻求对NovaTech运营商判决1.37亿美元
Read original source ↗ Bitcoin MagazineReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- NovaTech
- Action：
- 面临判决
- Object：
- 涉及加密货币庞氏骗局
- Occurred (fact side)：
- Oct 24, 00:00
- Published (valid side)：
- Oct 24, 05:21
- First seen (known side)：
- Oct 24, 06:18
Fact stationSingle source · one-sided claimCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 5Unclassified fact stationOct 22, 00:00recorded Oct 24, 14:07single sourcerevised
纽约要求NovaTech支付13.7亿美元以赔偿欺诈受害者
Read original source ↗ CryptoSlateReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- New York Attorney General
- Action：
- 寻求法院命令支付
- Object：
- NovaTech及其创始人
- Occurred (fact side)：
- Oct 22, 00:00
- Published (valid side)：
- Oct 24, 13:50
- First seen (known side)：
- Oct 24, 14:07
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
Uncertainty marks flag where to check the sources; they are not proven causation.
Report timeline
Explore every side through dated source reports.
- CryptoSlateRelated fact: single sourceSource report revisedNew York seeks $1.37 billion from NovaTech following 2025 liability ruling
Report first recorded Oct 24, 14:07
New York Attorney General Letitia James filed a motion on Oct. 22 seeking $1,367,023,585, including interest, from cryptocurrency investment company NovaTech and its founders Cynthia and Eddy Petion, after a 2025 default ruling found them liable for the NovaTech fraud. Over 11,000 New Yorkers lost tens of millions of dollars in the NovaTech and related AWS Mining scheme, which targeted immigrant and religious communities, particularly Haitian New Yorkers, through prayer groups, social media, and WhatsApp. The filing notes that separate promoter obligations, including Ciceron’s installments through 2029, do not establish specific victim payout dates, and matching deposit usernames to individuals is difficult without court-ordered accounting.
Read original source ↗ - Bitcoin MagazineRelated fact: single sourceNew York AG Seeks $1.37 Billion Judgment Against NovaTech and AWS Mining Ponzi Scheme Operators
Report first recorded Oct 24, 06:18
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.
Read original source ↗ - DecryptRelated fact: single sourceSource report revisedNew York AG seeks $1.37 billion from NovaTech founders who fled U.S., bans four promoters
Report first recorded Oct 24, 00:42
New York Attorney General Letitia James is seeking approximately $1.37 billion in damages from NovaTech founders Cynthia and Eddy Petion, who fled the U.S. before an August 2025 default judgment. The scheme targeted Haitian communities through prayer groups and WhatsApp, drawing over 11,000 New York investors. Four top promoters agreed to pay nearly $6 million to benefit victims and are permanently banned from the securities, commodities and crypto industries.
Read original source ↗
- CointelegraphRelated fact: single sourceSource report revisedNY AG seeks $1.37B from NovaTech founders over Ponzi scheme
Report first recorded Oct 23, 20:56
New York Attorney General Letitia James has asked a court to order NovaTech founders Cynthia and Eddy Petion and related companies to pay $1.37 billion, comprising about $1.13 billion in investor funds and $232.5 million in interest, related to a Ponzi scheme. Over 11,000 New Yorkers lost tens of millions of dollars through NovaTech and an earlier crypto mining scheme, AWS Mining, with investors depositing about $1.16 billion into NovaTech’s crypto wallets between August 2019 and May 2023.
Read original source ↗ - The BlockRelated fact: single sourceNew York seeks $1.3 billion from NovaTech founders after founders fled US
Report first recorded Oct 23, 18:38
New York is seeking $1.3 billion from NovaTech's founders, whose platform raised $1.16 billion and traded a fraction of those funds. The founders are wanted in connection with alleged fraud and have fled the US.
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