Skip to content

CryptoVert Blockchain App for iOS

Bitcoin, NFTs, News, and more!

Primary Menu
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
  • Home
  • Crypto
  • SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme
  • Crypto

SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme

cryptovert August 13, 2024 1 min read

The
company’s
founders,
American
married
couple
Cynthia
and
Eddy
Petion,
who
are
now
believed
to
be
living
in
Panama,
and
promoters
–
including
Martin
Zizi,
James
Corbett,
Corrie
Sampson,
Dapilinu
Dunbar,
John
Garofano
and
Marsha
Hadley,
all
named
defendants
in
the
SEC’s
lawsuit
–
used
“religious
overtones”
when
soliciting
investors.
Cynthia
Petion
dubbed
herself
the
“Reverend
CEO”
in
NovaTech
promotional
materials
and
on
her
social
media
profiles,
and
claimed
that
God
sent
her
a
“vision”
of
starting
the
company
while
she
was
brushing
her
teeth.

NovaTech’s
would-be
investors
believed
that
their
investments
would
be
pooled
and
then
traded
in
the
crypto
and
foreign
exchange
markets.
NovaTech’s
marketing
materials
promised
investors
2-3%
returns
per
week,
according
to
the
SEC,
and
purportedly
never
posted
a
weekly
trading
loss.

Continue Reading

Previous: German State-Owned Development Bank Prepares for Tokenized Bond Issuance with Boerse Stuttgart Digital in ECB Trial
Next: VCs Show ‘Flight to Quality’ in Q2 Funding Report

Related Stories

Trump’s threat to block Congress over voter-ID law leaves crypto bill on shakier ground
1 min read
  • Crypto

Trump’s threat to block Congress over voter-ID law leaves crypto bill on shakier ground

March 10, 2026
Crypto and stocks add to gains as Trump says Iran war could be over soon
1 min read
  • Crypto

Crypto and stocks add to gains as Trump says Iran war could be over soon

March 10, 2026
How the war in Iran and trader positioning could be behind the surge in Circle’s stock
1 min read
  • Crypto

How the war in Iran and trader positioning could be behind the surge in Circle’s stock

March 10, 2026

You may have missed

Trump’s threat to block Congress over voter-ID law leaves crypto bill on shakier ground
1 min read
  • Crypto

Trump’s threat to block Congress over voter-ID law leaves crypto bill on shakier ground

March 10, 2026
How the war in Iran and trader positioning could be behind the surge in Circle’s stock
1 min read
  • Crypto

How the war in Iran and trader positioning could be behind the surge in Circle’s stock

March 10, 2026
Crypto and stocks add to gains as Trump says Iran war could be over soon
1 min read
  • Crypto

Crypto and stocks add to gains as Trump says Iran war could be over soon

March 10, 2026
Bitcoin could be the big winner if the U.S.-Iran conflict drags on for months
1 min read
  • Crypto

Bitcoin could be the big winner if the U.S.-Iran conflict drags on for months

March 10, 2026
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
Copyright © All rights reserved. | MoreNews by AF themes.