New York Seeks $1.367 Billion From NovaTech Founders

New York Attorney General Letitia James is asking a court to order NovaTech founders Cynthia and Eddy Petion to pay about $1.367 billion, following a default judgment against them and related companies in a case over an alleged cryptocurrency investment fraud scheme. An October 22 court filing seeks $1.134 billion in disgorgement tied to NovaTech, plus approximately $232.5 million in prejudgment interest. The requested amount is not a final monetary award, and the court has yet to determine what, if anything, the Petions must pay. A separate request seeks about $6.15 million, including interest, in connection with AWS Mining, another company named in the state’s lawsuit. The court entered a default judgment against the Petions and related companies on August 4, 2025, after they failed to respond to the state’s lawsuit. The judgment addressed liability, while the financial award was left for a separate proceeding. The Attorney General’s Office says the couple left the country. The filing says NovaTech received about $1.16 billion in cryptocurrency from investors through a CoinPayments account between August 2019 and May 2023. Records cited by the state show that $25.99 million...