New York attorney general seeks 1.37 billion dollars from NovaTech operators

New York Attorney General Letitia James requested a court to order NovaTech founders Cynthia Petion and Eddy Petion to pay 1.37 billion dollars, according to reports from Bitcoin Magazine Markets and Cointelegraph. The regulatory filing targets the founders and related companies behind the defunct cryptocurrency and foreign exchange trading platform. Decrypt reported that the defendants targeted victims through prayer groups. [1][2][5]

The monetary demand includes approximately 1.13 billion dollars in stolen investor capital alongside 232.5 million dollars in interest, Cointelegraph reported. Bitcoin Magazine Markets and Cointelegraph both noted that the scheme, along with its predecessor AWS Mining, defrauded hundreds of thousands of investors globally out of more than 1 billion dollars. Cointelegraph added that the court found the founders liable by default in August 2025 after they failed to respond to the lawsuit. [1][2]

According to Bitcoin Magazine Markets, the alleged founders never appeared in court and fled the United States. Decrypt and Cointelegraph both reported that the attorney general also secured nearly 6 million dollars in settlements with four promoters who recruited participants for the platform. [1][2][5]