Cynthia Petion
Co-founder and self-described CEO ('Reverend CEO') of NovaTech. The SEC alleges she and her husband ran NovaTech as a $650M crypto/forex Ponzi and pyramid scheme and siphoned millions for themselves. Charged civilly by the SEC in 2024.
Also known as: Reverend CEO
Note: Cynthia Petion has been charged civilly by the SEC; the allegations have not been adjudicated.
Bio
Cynthia Petion co-founded NovaTech with her husband Eddy Petion and presented herself as its CEO. The SEC alleges she promised investors their money would be traded safely on crypto and forex markets and that they were "in profit from day one." [1][2]
Status
The SEC's August 2024 complaint alleges NovaTech operated as an MLM Ponzi/pyramid scheme that raised more than $650 million, and that the Petions diverted millions to themselves. The complaint reports the Petions evaded the SEC's subpoenas; their location has been reported as unknown. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.