New York Attorney General Letitia James filed a motion on October 22 seeking $1,367,023,585 from cryptocurrency investment company NovaTech, its founders Cynthia and Eddy Petion, and related companies. The filing follows an August 4, 2025 default order that found the defendants liable for investor damages and disgorgement of funds obtained through fraud.
According to the state, more than 11,000 New Yorkers lost tens of millions of dollars in NovaTech and a related scheme called AWS Mining. The state alleges the schemes targeted immigrant and religious communities, particularly Haitian New Yorkers, through prayer groups, social media, and WhatsApp.
New York's damage calculation begins with approximately $1.161 billion in identified investor cryptocurrency deposits, less about $26 million sent to the trading platform. This results in a principal amount of $1,134,549,691, before adding $232,473,894 in interest. The state argues that payments made to other investors and promoters from deposited funds should not reduce the disgorgement amount.
The state notes that most deposit usernames cannot reliably be matched to individuals without court-ordered accounting that defendants have not provided. Most wallet withdrawals lack recipient identification, limiting what available records reveal about individual losses.
Settlement Terms and Promoter Obligations
The filing identifies nearly $6 million in separate promoter obligations from four individuals: Frantz Ciceron, James Corbett, Ricardo Roy Sr., and Martin Zizi.
Ciceron's agreement, dated May 14 and filed May 19, 2026, combines $1.35 million in monetary relief with the transfer to New York of his and his entities' rights to present and future EminiFX receivership distributions, totaling a $2 million obligation. The cash terms require $850,000 within 30 days of court execution, followed by four $125,000 installments due each December 31 from 2026 through 2029. Ciceron and Kings Multi Services Agency LLC neither admitted nor denied the allegations.
The filing does not specify a total victim payout amount or individual distribution dates.
