On February 5, 2024, in New York City, Morris Legal, a Multistate law firm, made a public announcement about a large-scale
class action lawsuit being lodged against NovaTech Ltd and several individuals including CEO Cynthia Petion, her husband Eddy Petion, Jean Martin Zizi,
Frantz Ciceron, John Garofano, Bob St. Louis, James Corbett, Stanley Richards, Micheline Thomas, Travis
Biebertiz and others. These individuals are accused of designing and implementing a Ponzi scheme that defrauded investors of over two billion dollars. This lawsuit was filed in the Federal Court of the
Southern District of New York, approximately one year after the scheme crumbled.
Cynthia Petion, who styled herself as the “Reverend CEO,” launched NovaTech in June of 2019. The company allegedly offered
investment services without possessing the requisite broker’s license. Over a period of four years, NovaTech and its senior management are claimed to have
engaged in a systematic pattern of fraudulent activities, by using deceit to offer global investment opportunities. The scheme focused on individuals with minimal knowledge of crypto currency and financial markets.
Working in unison, the accused pledged investors guaranteed returns of 3% weekly from investments in
Morris Legal’s inquiries, however, unveil that Cynthia Petion and her accomplices
had no intention of investing the funds they amassed. In actual fact, similar to a classic Ponzi scheme, these investments were returned to the investors, using funds acquired from other investors. Between 2022 to 2024, cease and desist letters, as well as fines for fraud, misrepresentation and contravention of securities laws were issued against NovaTech and co-conspirators by several countries and states including Russia, South Africa, Estonia, Nigeria, St. Vincent and the Grenadines, British Virgin Islands, Alberta, British Columbia, Ontario, Saskatchewan in Canada, California, Wisconsin and Washington in the United States.
Defying these penal measures, the designees kept the scheme running until it imploded in February 2023. Following this, Cynthia Petion and her spouse went into hiding.
The named plaintiff has appointed Morris Legal to represent all NovaTech investors and initiate a
class action lawsuit to bring these transgressors to justice for their cross-border deceit.
Any payments made to NovaTech make you a potential candidate to take part in the class action lawsuit. You are encouraged to call (305) 444-
3437, or visit: www.WilMorrislaw.com to register for the same.