Huge Crypto Fraud EXPOSED | NovaTech FX Pyramid Scam Update
The alleged NovaTech FX crypto scam is gearing to be one of the largest frauds exposed in 2024 and beyond. Lead by Cynthia Petion and her husband Eddy Petion, NovaTechFX allegedly defrauded over 200K investors who gave $650 million to the company from 2019 to 2023 according to the 8/12/2024 SEC complaint.
According to the Securities and Exchange Commission (SEC) allegations, NovaTech was no more than a pyramid scheme. The company collected funds from investors on a false promise of steady, high returns (weekly returns of 2%-3%) from crypto and forex trading, which allegedly never materialized. This may also sound like a crypto Ponzi scheme too.
Known as the "Reverend CEO", Cynthia Petion and her husband are probably in hiding in Panama. There is a lot to learn here as there were many red flags present before things started unraveling.
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The SEC Complaint filing:
► https://www.sec.gov/files/litigation/...
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Timestamps:
00:00 - The Rise and Fall of NovaTech FX
02:29 - NovaTech Red Flag 1: Unrealistic Returns
03:25 - NovaTech Red Flag 2: "Registered Hedge Fund"
04:03 - NovaTech Red Flag 3: Prior Involvement with AWS Mining
05:03 - NovaTech Red Flag 4: Undisclosed Lawsuits/Bankruptcy
05:35 - NovaTech Red Flag 5: Piling Fraud Warnings
06:19 - Demise of NovaTechFX and what We Can Learn from it
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This video content is for informational purposes only and should not be viewed as legal, tax, investment or financial advice. It expresses my own opinion based on public information.
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