NovaTech FX Class Action

In February 2024, Morris Legal filed a $2 billion securities fraud class action in the U.S. District Court for the Southern District of New York against NovaTech Ltd., its CEO Cynthia Petion, her husband Eddy Petion, Jean Martin Zizi, and other alleged co-conspirators. The case is Mullins v. NovaTech et al., Case No. 1:24-cv-00824, assigned to Judge Vernon S. Broderick.

The complaint alleges that the defendants promised investors guaranteed returns of 3% weekly from cryptocurrency trading, but neither invested nor intended to invest investors’ funds. Instead, it alleges, early investors were paid with money from newer investors, the hallmark of a Ponzi scheme.

Separately, the U.S. Securities and Exchange Commission sued NovaTech and its promoters in the Southern District of Florida in August 2024, alleging a pyramid scheme that raised more than $650 million from over 200,000 investors worldwide, many of them in the Haitian-American community. The collapse of NovaTech in 2023 left most investors unable to withdraw their funds.

If you invested money in NovaTech FX, you may be able to join our class action. There is no cost or obligation to speak with us.