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Eddy Petion
Co-founder of NovaTech with his wife Cynthia Petion. The SEC alleges the couple operated NovaTech as a $650M crypto/forex Ponzi and pyramid scheme. Charged civilly by the SEC in 2024.
Note: Eddy Petion has been charged civilly by the SEC; the allegations have not been adjudicated.
Bio
Eddy Petion co-founded NovaTech with his wife Cynthia Petion. The SEC alleges the couple raised more than $650 million from over 200,000 investors and used most of it to pay earlier investors and promoters rather than for the promised trading. [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.