New York seeks $1.37B from NovaTech’s founders as $6M recovery frustrates victims

New York Attorney General Letitia James asked a New York court to impose nearly $1.37 billion on NovaTech founders Cynthia and Eddy Petion, who fled the US in mid-2022. The request follows an August 2025 default judgment establishing liability because the couple never answered the lawsuit; it seeks $1.13 billion in disgorgement of ill-gotten gains plus $232.5 million in prejudgment interest. Only about $5.98 million has been recovered, mainly from promoter settlements, while more than 11,000 New Yorkers lost tens of millions through NovaTech and the Petions' earlier AWS Mining program. Four promoters have agreed to pay disgorgement for victims and were banned from securities, commodities and crypto industries.