NovaTech Crypto Ponzi: NY AG Seeks $1.37 Billion
New York's Attorney General is pursuing $1.37 billion from fugitive NovaTech founders Cynthia and Eddy Petion, including $1.13B in disgorgement, after tracing $134.5M of investor funds to their crypto wallets.
What we know
Three sources covered the NovaTech enforcement action. An account on X reported the breakdown: $1.13B disgorgement plus $232.5M prejudgment interest, with $1.16B in crypto traced in court filings. Another account on X noted investigators traced $134.5M directly to the Petions' wallets. This is one of the largest crypto fraud enforcement actions by a state AG.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.