SEC Charges NovaTech Promoters in $650 Million Cryptocurrency Ponzi Scheme

The U.S. Securities and Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its principals, Cynthia and Eddy Petion, for organizing a cryptocurrency scam that defrauded more than 200,000 investors around the world, including many Haitian-Americans. The SEC's complaint details that under the leadership of the petition, NovaTech was promoted as a multi-level marketing (MLM) and crypto-asset investment scheme.