NovaTech collapsed in May 2023 after taking in more than $1B in crypto, largely from Haitian and other immigrant communities. New York's attorney general has now asked a court to order founders Cynthia and Eddy Petion to pay $1.3B in damages and disgorgement.

The request follows an August 2025 default judgment issued after the couple left the country. That judgment also banned both from the securities, commodities and crypto industries.

From August 2019 to April 2023, investors deposited over $1B in crypto with NovaTech, but less than $26M was ever traded on its platform.

Four top promoters (Martin Zizi, Frantz Ciceron, Ricardo Roy Sr. and James Corbett) settled separately, agreeing to pay nearly $6M for victims and accepting permanent industry bans. More than 11,000 New Yorkers invested in NovaTech and its predecessor AWS Mining.