New York Asks Court for a $1.37 Billion Judgment Against NovaTech’s Founders
By Unchained
AI summary of the source article
The New York Attorney General's office has asked a state court to enter a $1.37 billion judgment against NovaTech founders Cynthia and Eddy Petion. The request includes $1.13 billion in disgorgement and $232.5 million in prejudgment interest.
Key facts
- New York requested a $1.37 billion judgment against NovaTech's founders, comprising $1.13 billion in disgorgement and $232.5 million in prejudgment interest.
- Records show about $1.16 billion flowed into NovaTech's wallet from August 2019 to May 2023, while Cynthia Petion approved at least $134.5 million in withdrawals to founders' wallets.
- Four promoters agreed to settlements totaling about $5.98 million and were permanently barred from the securities, commodities, and crypto industries.
Source excerpt · Unchained
Four promoters have agreed to pay about $6 million for victims of the crypto scheme, and neither the attorney general's filing nor its release says how money would be recovered from Cynthia and Eddy Petion. The post New York Asks Court for a $1.37 Billion Judgment Against NovaTech’s Founders appeared first on Unchained .