New York attorney general seeks $1.37 billion judgment against NovaTech founders for crypto scam targeting prayer groups; $6 million settled with promoters.
Regulation & Gov ·
New York's attorney general is pursuing a $1.37 billion judgment against NovaTech founders Cynthia and Eddy Petion, who left the country following a default ruling in August 2025, while simultaneously securing nearly $6 million in settlements from four top scheme promoters. The platform allegedly defrauded more than 11,000 New York residents who were targeted through prayer groups and messaging apps, with the scheme directing over $1 billion in investor cryptocurrency deposits between 2019 and 2023, of which approximately $134.5 million flowed to accounts controlled by the Petions.