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Every state-changing event for NovaTech Ltd. / Cynthia Petion — $650M Crypto MLM Fraud: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-13 17:06:14Z
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   {"actor":"system:backfill","investigation_id":"7a131dc6-a35d-48ca-abb2-45ff139dbcbf","kind":"publish","page_slug":"novatech-ltd-cynthia-petion-650m-crypto-mlm-fraud","published_at":"2026-08-13T17:06:13.874Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"NovaTech Ltd. / Cynthia Petion — $650M Crypto MLM Fraud","sections":[{"content":"NovaTech Ltd., also known as NovaTech FX, was a multi-level marketing platform that solicited investors between approximately June 2019 and May 2023 by claiming to invest participant funds in cryptocurrency and foreign exchange markets. According to the SEC's August 2024 civil complaint, the company raised more than $650 million in crypto assets from over 200,000 investors worldwide. The SEC alleges that rather than conducting substantive trading, the majority of investor funds were used to pay commissions and returns to earlier participants — the hallmark structure of a Ponzi scheme. Trading records cited by the SEC allegedly show net trading losses of approximately $18 million across the period, a figure sharply at odds with the consistent weekly returns Cynthia Petion claimed to deliver. The company was registered in St. Vincent and the Grenadines. These are allegations in a civil complaint; no court has adjudicated the merits of the SEC's claims as of the date of this report.","heading":"Overview and Scheme Structure","severity":"critical","sources":[{"credibility":1,"name":"SEC Press Release 2024-95: SEC Charges Alleged Crypto Company NovaTech and its Principals and Promoters with $650 Million Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"credibility":1,"name":"SEC v. NovaTech — Enforcement Litigation Page","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/sec-v-novatech"},{"credibility":2,"name":"SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2024/08/12/sec-files-fraud-charges-against-promoters-of-novatech-alleged-650m-crypto-pyramid-scheme"}]},{"content":"Cynthia Petion served as co-founder and CEO of NovaTech. In promotional materials she referred to herself as the 'Reverend CEO,' frequently invoking religious language and claiming a divine inspiration for founding the company. Eddy Petion, her co-founder, is named alongside her in all major regulatory actions. According to the SEC complaint and reporting by BehindMLM, the Petions transferred at least $4.3 million directly to accounts controlled by Cynthia Petion, $1.5 million to accounts controlled by Eddy Petion, and approximately $35.2 million to additional accounts believed to be under Eddy Petion's control. The allegations regarding these transfers are part of the pending civil complaint and have not been adjudicated. Six promoters were also charged by the SEC in August 2024: Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano, and Marsha Hadley. Zizi agreed to partially settle the SEC's charges, consenting to a $100,000 civil penalty and a permanent injunction, with additional monetary remedies to be determined by the court. The remaining promoters' cases were pending as of the time of reporting.","heading":"Key Individuals","severity":"critical","sources":[{"credibility":1,"name":"SEC Press Release 2024-95","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"credibility":2,"name":"SEC sues NovaTech FX's Petions and Ponzi promoters — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/sec-sues-novatech-fxs-petions-ponzi-promoters/"},{"credibility":2,"name":"SEC Charges NovaTech and its Principals and Promoters with $650 Million Crypto Fraud — SECLaw","type":"news_article","url":"https://seclaw.com/sec-charges-novatech-and-its-principals-and-promoters-with-650-million-crypto-fraud/"}]},{"content":"According to the SEC's complaint and the New York Attorney General's June 2024 lawsuit, NovaTech and its promoters allegedly engaged in affinity fraud, specifically targeting Haitian Creole-speaking churchgoers in the United States and abroad. Promoters reportedly used WhatsApp groups, prayer circles, and in-person community events to recruit investors. Cynthia Petion's self-styled identity as the 'Reverend CEO' — including claims that God revealed the company's founding to her — was reportedly central to recruitment messaging that appealed to trust within religious communities. The New York AG's complaint states that investors deposited over $1 billion in cryptocurrency into NovaTech, of which less than $26 million was actually traded on any market. These figures from the NY AG complaint differ from those in the SEC complaint ($650 million raised); the discrepancy may reflect differing methodologies or scope. Both figures reflect unproven allegations pending court determination.","heading":"Targeting of the Haitian-American Community (Affinity Fraud)","severity":"critical","sources":[{"credibility":1,"name":"NY Attorney General press release: Attorney General James Sues Cryptocurrency Companies NovaTechFX and AWS Mining","type":"regulatory","url":"https://ag.ny.gov/press-release/2024/attorney-general-james-sues-cryptocurrency-companies-novatechfx-and-aws-mining"},{"credibility":2,"name":"NYAG Sues 2 Crypto Pyramid Schemes, Promoters Targeting Haitian-Americans in $1B Scam — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2024/06/06/nyag-sues-2-crypto-pyramid-schemes-promoters-targeting-haitian-americans-in-1b-scam"},{"credibility":2,"name":"200,000 People Lost $650 Million in This Crypto Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/forex/regulation/200000-people-lost-650-million-in-this-crypto-scam/"}]},{"content":"The U.S. Securities and Exchange Commission filed a civil complaint on August 12, 2024, in the U.S. District Court for the Southern District of Florida (case no. 1:24-cv-23058) against NovaTech Ltd., Cynthia Petion, Eddy Petion, and six promoters. The complaint alleges seven counts including violations of the Securities Act of 1933, the Securities Exchange Act of 1934, and operation as unregistered broker-dealers. The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil monetary penalties. The SEC's litigation release LR-26072 is associated with this ongoing case. As of the date of this report, the litigation is pending and no final judgment has been entered against the principal defendants. The case is an allegation only; a court has not yet made findings of liability.","heading":"SEC Civil Enforcement Action (August 2024)","severity":"critical","sources":[{"credibility":1,"name":"SEC.gov — NovaTech Ltd., et al. (Litigation Release LR-26072)","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26072"},{"credibility":1,"name":"SEC.gov — SEC v. NovaTech enforcement page","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/sec-v-novatech"},{"credibility":2,"name":"SEC charges NovaTech with operating a pyramid scheme that raised $650 million in crypto — The Block","type":"news_article","url":"https://www.theblock.co/post/310780/sec-charges-novatech-with-allegedly-operating-a-pyramid-scheme-that-raised-650-million-in-crypto"}]},{"content":"On June 6, 2024, New York Attorney General Letitia James filed a lawsuit in New York Supreme Court against NovaTech FX (and separately against AWS Mining Pty Ltd.), naming Cynthia and Eddy Petion as defendants alongside promoters James Corbett, Martin Zizi, and Frantz Ciceron. The AG's complaint alleges the scheme raised over $1 billion in cryptocurrency, of which less than $26 million was traded, making it an illegal pyramid scheme that defrauded over 11,000 New Yorkers out of tens of millions of dollars. The suit seeks to ban the defendants from conducting securities or commodities business in New York and to secure disgorgement and damages for victims. As of the time of reporting, the New York litigation is active; no court ruling on the merits has been issued.","heading":"New York Attorney General Lawsuit (June 2024)","severity":"critical","sources":[{"credibility":1,"name":"NY AG Press Release: Attorney General James Sues Cryptocurrency Companies NovaTechFX and AWS Mining","type":"regulatory","url":"https://ag.ny.gov/press-release/2024/attorney-general-james-sues-cryptocurrency-companies-novatechfx-and-aws-mining"},{"credibility":2,"name":"NYAG sues crypto firms NovaTechFx and AWS Mining for alleged $1b fraud — Crypto.news","type":"news_article","url":"https://crypto.news/nyag-sues-crypto-firms-novatechfx-and-aws-mining-for-alleged-1b-fraud/"}]},{"content":"Ontario's Capital Markets Tribunal (CMT) conducted enforcement proceedings against NovaTech Ltd. and Cynthia Petion in 2024. In its merits decision published July 19, 2024, the CMT found that NovaTech violated Ontario securities law by selling securities without registration and without filing a required prospectus, and that the respondents continued accepting investor funds despite a prior tribunal cease-trade order. On December 3, 2024, the CMT issued sanctions: a joint $2.5 million administrative penalty, $31,000 in disgorgement, and $193,333.52 in costs. Both NovaTech Ltd. and Cynthia Petion received permanent bans from participating in Ontario's capital markets. The tribunal characterized the misconduct as 'egregious' and found the respondents had 'flagrantly ignored' its earlier order. NovaTech did not appear at the Ontario hearing. These are adjudicated findings by a Canadian securities regulatory tribunal, not merely allegations.","heading":"Ontario Capital Markets Tribunal Sanctions (July–December 2024)","severity":"critical","sources":[{"credibility":1,"name":"Decision in Brief: Nova Tech Ltd — Sanctions and Costs, December 3, 2024 — Capital Markets Tribunal","type":"regulatory","url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-sanctions-and-costs-december-3-2024"},{"credibility":1,"name":"Decision in Brief: Nova Tech Ltd — Merits, July 19, 2024 — Capital Markets Tribunal","type":"regulatory","url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-merits-july-19-2024"},{"credibility":2,"name":"NovaTech FX and Cynthia Petion fined $2.5 million in Canada — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-cynthia-petion-fined-2-5-million-in-canada/"},{"credibility":2,"name":"Tribunal sanctions Nova Tech crypto scheme — Investment Executive","type":"news_article","url":"https://www.investmentexecutive.com/from-the-regulators/tribunal-sanctions-nova-tech-crypto-scheme/"}]},{"content":"On July 9, 2025, the Maryland Securities Commissioner issued a Final Order against NovaTech Ltd. (aka NovaTech FX), NovaTech Advisors LLC, NovaPay LLC, NovaTrading OU, Cynthia Petion, and Eddy Petion. The Commissioner found the respondents made untrue statements of material fact, engaged in fraudulent practices related to investment contracts, and operated as unregistered broker-dealers, agents, and investment advisers in violation of the Maryland Securities Act. The order imposed a $110 million civil monetary penalty, a figure the Commissioner noted approximately matched losses suffered by approximately 3,000 Maryland residents. The Commissioner's findings also stated that 'hundreds of thousands of investors across the country and internationally were defrauded out of billions of dollars.' None of the respondents responded to the initial show-cause order issued December 23, 2024. This is an adjudicated administrative finding; it is a civil regulatory order, not a criminal conviction.","heading":"Maryland Securities Commissioner Final Order (July 2025)","severity":"critical","sources":[{"credibility":1,"name":"Maryland Securities Commissioner Final Order — NovaTech FX (July 9, 2025)","type":"regulatory","url":"https://oag.maryland.gov/i-need-to/Documents/pdfs/Securities/2025/NovaTech%20FinalOrder%20070925.pdf"},{"credibility":2,"name":"NovaTech FX and Petions fined $110 million by Maryland — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-petions-fined-110-million-by-maryland/"}]},{"content":"NovaTech collapsed in approximately February–May 2023, at which point most investors were reportedly unable to withdraw their funds. According to information cited in the SEC complaint and reporting by BehindMLM, Cynthia and Eddy Petion relocated to Panama before the scheme's collapse: they reportedly sold their Florida residence in June 2022, acquired real estate in Panama, registered companies there, and held Panamanian bank accounts. The SEC reported uncertainty about the Petions' location, with reports at various times suggesting Panama and Dubai as possible locations. A WhatsApp number associated with Cynthia Petion with a Panamanian country code (+507) was reportedly active as recently as June 2025 according to BehindMLM. No criminal charges have been publicly reported as of the date of this investigation. The SEC civil case (1:24-cv-23058) remains pending.","heading":"Scheme Collapse and Current Status of Principals","severity":"high","sources":[{"credibility":2,"name":"NovaTech FX's Petions may be hiding in Dubai, says SEC — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fxs-petions-may-be-hiding-in-dubai-says-sec/"},{"credibility":2,"name":"SEC sues NovaTech FX's Petions and Ponzi promoters — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/sec-sues-novatech-fxs-petions-ponzi-promoters/"},{"credibility":2,"name":"SEC charges NovaTech with operating a pyramid scheme — The Block","type":"news_article","url":"https://www.theblock.co/post/310780/sec-charges-novatech-with-allegedly-operating-a-pyramid-scheme-that-raised-650-million-in-crypto"}]},{"content":"The SEC's August 2024 complaint charges that named promoters — Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano, and Marsha Hadley — continued recruiting investors and discrediting regulatory warnings even after becoming aware of enforcement actions. According to the SEC's allegations, certain promoters actively discouraged investors from filing complaints with authorities and continued withdrawing personal funds while advising other investors to wait. Martin Zizi agreed to partially settle the SEC's charges by consenting to a $100,000 civil penalty and permanent injunction, with additional monetary relief to be determined by the court. The partial settlement is subject to court approval. The remaining promoters' cases were pending as of the time of publicly available reporting.","heading":"Promoter Conduct","severity":"high","sources":[{"credibility":1,"name":"SEC Press Release 2024-95","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"credibility":2,"name":"SEC sues NovaTech FX's Petions and Ponzi promoters — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/sec-sues-novatech-fxs-petions-ponzi-promoters/"}]}],"sources_used":[{"credibility":1,"name":"SEC Press Release 2024-95: SEC Charges Alleged Crypto Company NovaTech and its Principals and Promoters with $650 Million Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"credibility":1,"name":"SEC.gov — NovaTech Ltd., et al. (Litigation Release LR-26072)","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26072"},{"credibility":1,"name":"SEC.gov — SEC v. NovaTech enforcement page","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/sec-v-novatech"},{"credibility":1,"name":"NY AG Press Release: Attorney General James Sues Cryptocurrency Companies NovaTechFX and AWS Mining","type":"regulatory","url":"https://ag.ny.gov/press-release/2024/attorney-general-james-sues-cryptocurrency-companies-novatechfx-and-aws-mining"},{"credibility":1,"name":"Maryland Securities Commissioner Final Order — NovaTech FX (July 9, 2025)","type":"regulatory","url":"https://oag.maryland.gov/i-need-to/Documents/pdfs/Securities/2025/NovaTech%20FinalOrder%20070925.pdf"},{"credibility":1,"name":"Decision in Brief: Nova Tech Ltd — Sanctions and Costs, December 3, 2024 — Ontario Capital Markets Tribunal","type":"regulatory","url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-sanctions-and-costs-december-3-2024"},{"credibility":1,"name":"Decision in Brief: Nova Tech Ltd — Merits, July 19, 2024 — Ontario Capital Markets Tribunal","type":"regulatory","url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-merits-july-19-2024"},{"credibility":1,"name":"Decision in Brief: Nova Tech Ltd — Motion to waive service, January 9, 2024 — Ontario Capital Markets Tribunal","type":"regulatory","url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-and-cynthia-petion-enforcement-proceeding-motion-waive-service-and"},{"credibility":2,"name":"SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2024/08/12/sec-files-fraud-charges-against-promoters-of-novatech-alleged-650m-crypto-pyramid-scheme"},{"credibility":2,"name":"NYAG Sues 2 Crypto Pyramid Schemes, Promoters Targeting Haitian-Americans in $1B Scam — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2024/06/06/nyag-sues-2-crypto-pyramid-schemes-promoters-targeting-haitian-americans-in-1b-scam"},{"credibility":2,"name":"SEC charges NovaTech with operating a pyramid scheme that raised $650 million in crypto — The Block","type":"news_article","url":"https://www.theblock.co/post/310780/sec-charges-novatech-with-allegedly-operating-a-pyramid-scheme-that-raised-650-million-in-crypto"},{"credibility":2,"name":"SEC charges NovaTech with operating $650 million Ponzi scheme — FinanceFeeds","type":"news_article","url":"https://financefeeds.com/sec-charges-novatech-with-operating-650-million-ponzi-scheme/"},{"credibility":2,"name":"SEC sues NovaTech FX's Petions and Ponzi promoters — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/sec-sues-novatech-fxs-petions-ponzi-promoters/"},{"credibility":2,"name":"NovaTech FX and Cynthia Petion fined $2.5 million in Canada — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-cynthia-petion-fined-2-5-million-in-canada/"},{"credibility":2,"name":"NovaTech FX and Petions fined $110 million by Maryland — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-petions-fined-110-million-by-maryland/"},{"credibility":2,"name":"NovaTech FX's Petions may be hiding in Dubai, says SEC — BehindMLM","type":"news_article","url":"https://behindmlm.com/companies/novatech-fx/novatech-fxs-petions-may-be-hiding-in-dubai-says-sec/"},{"credibility":2,"name":"Tribunal sanctions Nova Tech crypto scheme — Investment Executive","type":"news_article","url":"https://www.investmentexecutive.com/from-the-regulators/tribunal-sanctions-nova-tech-crypto-scheme/"},{"credibility":2,"name":"200,000 People Lost $650 Million in This Crypto Scam — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/forex/regulation/200000-people-lost-650-million-in-this-crypto-scam/"},{"credibility":2,"name":"SEC Charges NovaTech and its Principals and Promoters with $650 Million Crypto Fraud — SECLaw","type":"news_article","url":"https://seclaw.com/sec-charges-novatech-and-its-principals-and-promoters-with-650-million-crypto-fraud/"},{"credibility":2,"name":"SEC charges crypto firm NovaTech with fraud — TechCrunch","type":"news_article","url":"https://techcrunch.com/2024/08/12/sec-charges-crypto-firm-novatech-with-fraud/"}],"summary":"NovaTech Ltd. (also marketed as NovaTech FX), incorporated in St. Vincent and the Grenadines and operated by Cynthia and Eddy Petion, is alleged by U.S. and Canadian regulators to have operated a fraudulent multi-level marketing and crypto investment scheme from June 2019 through May 2023 that raised more than $650 million from over 200,000 investors worldwide. The SEC filed a civil complaint on August 12, 2024, alleging the scheme functioned as a Ponzi, with new investor funds used to pay earlier participants rather than traded as claimed. Regulatory bodies in three jurisdictions — the U.S. SEC, Ontario's Capital Markets Tribunal, and the Maryland Securities Commissioner — have each taken enforcement action; as of the investigation date, the SEC civil litigation remains ongoing and no criminal convictions have been entered.","timeline":[{"date":"2019-06-01","event":"NovaTech Ltd. begins operating as a crypto and forex MLM investment platform, soliciting investors primarily in the Haitian-American community. Approximate start date per SEC complaint.","source":"SEC Press Release 2024-95","source_url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"date":"2022-06-01","event":"Cynthia and Eddy Petion reportedly sell their Florida home and relocate to Panama, registering companies and opening bank accounts there, according to SEC filings.","source":"SEC sues NovaTech FX's Petions and Ponzi promoters — BehindMLM","source_url":"https://behindmlm.com/companies/novatech-fx/sec-sues-novatech-fxs-petions-ponzi-promoters/"},{"date":"2023-02-01","event":"NovaTech begins to collapse; investors report inability to withdraw funds. Approximate date per Maryland Final Order.","source":"NovaTech FX and Petions fined $110 million by Maryland — BehindMLM","source_url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-petions-fined-110-million-by-maryland/"},{"date":"2023-05-01","event":"NovaTech scheme fully collapses. Most investors are unable to withdraw their investments, resulting in substantial losses per the SEC complaint.","source":"SEC Press Release 2024-95","source_url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"date":"2024-01-09","event":"Ontario Capital Markets Tribunal grants a motion to waive service and other procedural relief, enabling proceedings to advance despite NovaTech's non-appearance.","source":"Decision in Brief: Nova Tech Ltd — Motion to waive service, January 9, 2024 — Capital Markets Tribunal","source_url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-and-cynthia-petion-enforcement-proceeding-motion-waive-service-and"},{"date":"2024-06-06","event":"New York Attorney General Letitia James files lawsuit against NovaTech FX and AWS Mining, alleging over $1 billion raised from investors with less than $26 million actually traded.","source":"NY AG Press Release: Attorney General James Sues Cryptocurrency Companies NovaTechFX and AWS Mining","source_url":"https://ag.ny.gov/press-release/2024/attorney-general-james-sues-cryptocurrency-companies-novatechfx-and-aws-mining"},{"date":"2024-07-19","event":"Ontario Capital Markets Tribunal issues merits decision finding NovaTech Ltd. violated Ontario securities law through unregistered trading, illegal distribution, and breach of a prior cease-trade order.","source":"Decision in Brief: Nova Tech Ltd — Merits, July 19, 2024 — Capital Markets Tribunal","source_url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-merits-july-19-2024"},{"date":"2024-08-12","event":"SEC files civil complaint (case 1:24-cv-23058, S.D. Fla.) against NovaTech Ltd., Cynthia Petion, Eddy Petion, and six named promoters alleging a $650 million crypto fraud and pyramid scheme. SEC also announces charges via Press Release 2024-95.","source":"SEC Press Release 2024-95","source_url":"https://www.sec.gov/newsroom/press-releases/2024-95"},{"date":"2024-12-03","event":"Ontario Capital Markets Tribunal imposes sanctions on NovaTech Ltd. and Cynthia Petion: $2.5 million joint administrative penalty, $31,000 disgorgement, $193,333.52 in costs, and permanent bans from Ontario capital markets.","source":"Decision in Brief: Nova Tech Ltd — Sanctions and Costs, December 3, 2024 — Capital Markets Tribunal","source_url":"https://www.capitalmarketstribunal.ca/en/proceedings/decisions-in-brief/decision-brief-nova-tech-ltd-enforcement-proceeding-sanctions-and-costs-december-3-2024"},{"date":"2024-12-23","event":"Maryland Securities Commissioner issues show-cause order against NovaTech and the Petions. Respondents do not answer.","source":"NovaTech FX and Petions fined $110 million by Maryland — BehindMLM","source_url":"https://behindmlm.com/companies/novatech-fx/novatech-fx-petions-fined-110-million-by-maryland/"},{"date":"2025-07-09","event":"Maryland Securities Commissioner issues Final Order imposing $110 million civil monetary penalty against NovaTech Ltd., NovaTech Advisors LLC, NovaPay LLC, NovaTrading OU, Cynthia Petion, and Eddy Petion for violations of the Maryland Securities Act.","source":"Maryland Securities Commissioner Final Order — NovaTech FX (July 9, 2025)","source_url":"https://oag.maryland.gov/i-need-to/Documents/pdfs/Securities/2025/NovaTech%20FinalOrder%20070925.pdf"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision d4ce0308-b3f0-4168-9e28-8e89be052b36copy