NovaTech FX: New York AG Secures Nearly $6 Million From Top Promoters
If you were part of NovaTech FX, I want to start with this: a lot of good, hardworking people joined NovaTech because someone they trusted brought them in, often through their church or their community. Believing in something is not a mistake. What happened next was not your fault.
There is new, official news on the case, and it is the kind of news that matters to the people who lost money.
What happened
On October 22, 2026, New York Attorney General Letitia James announced that her office secured nearly $6 million from four of NovaTech's top promoters.
Her office sued NovaTech and a related company, AWS Mining, in June 2024. The Attorney General describes NovaTech as a cryptocurrency pyramid scheme that targeted Haitian and other immigrant communities, including through prayer groups, social media and WhatsApp chats.
According to the release:
- More than 11,000 New Yorkers invested in NovaTech and AWS Mining and lost tens of millions of dollars.
- From August 2019 through April 2023, investors deposited over one billion dollars' worth of cryptocurrency with NovaTech, but less than $26 million was ever traded on its platform.
- NovaTech collapsed in May 2023, and tens of thousands of investors could not withdraw their money.
The settlements
Four top promoters settled with the Attorney General's office. Each is permanently banned from the securities, commodities and cryptocurrency industries, and each will pay disgorgement for the benefit of victims:
| Promoter | Amount |
|---|---|
| Martin Zizi | $2.9 million |
| Frantz Ciceron | $2.05 million |
| James Corbett | $750,000 |
| Ricardo Roy, Sr. | $275,861 |
The office also asked the court to order NovaTech's founders, Cynthia and Eddy Petion, to pay $1.3 billion in damages and disgorgement. That follows a default judgment issued in August 2025, after the couple fled the country. The default judgment also banned them from the same industries.
If you lost money
The release says the promoters' payments are for the benefit of victims. It does not explain how money will be paid out, so I won't guess.
If you are a New Yorker who lost money, the Attorney General's office takes complaints through its File a Complaint page. That office handled this case, so it is the right place to start.
Better days ahead
Here is what I want you to take from this. The things that made you good at NovaTech are real: you talked to people, you built trust, you showed up for your community. Those skills are worth something, and they work in honest businesses too.
If you ever look at another opportunity, ask two simple questions. Does it sell a real product to real customers who would buy it anyway? And does the money come from those sales, not from promised returns or recruiting? If both answers are yes, you're on much firmer ground.
You can see NovaTech FX's status, with the source, in my MLM company directory.
Source: New York Attorney General press release, October 22, 2026 (read November 4, 2026).
If you want to learn how to build a business on real marketing, the kind that does not depend on anyone's promises, that is what The Sponsoring System is about. It's free to get started.
