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BV-9912 // BROKER // OFFSHORE / SVG

NovaTechFX Review

SEC charged founders with $650M Ponzi scheme.

STATUS: REVOKED
Established 2019 · First audit 2023-01-15 · Last audit 2024-08-12
Forensic Trust Index v1.0
1.5/ 5.0D
Grade D · High risk
Evidence coverage
75% · 5/6 pillars
Sources cited
6
Assessed
2026-07-28
Basis
Public record
Read the full rubric →
// What Drives This Score
Regulatory authorisation
No authorisation found
40%
Enforcement and litigation
Civil action pending
27%
Client money protection
Crypto deposits only
13%
Corporate transparency
Partly identified
11%
Operating record
Collapsed or gone dark
9%

Scored on 5 of 6 pillars; unevidenced ones are dropped, not failed. Why →

// The Evidence Behind Each Pillar

Regulatory authorisation

No authorisation found · 40% of score

No licence located on any register covering the markets it solicits.

The SEC's complaint charges NovaTech with offering and selling unregistered securities, which is the regulator's own statement that nothing authorised this offering.

  • Court record
    Complaint charges NovaTech Ltd. and its principals under the securities-registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933.
    US Securities and Exchange Commission · SEC v. NovaTech Ltd., et al. (S.D. Fla.) · checked 2026-07-28 · open source ↗

Enforcement and litigation

Civil action pending · 27% of score

A regulator or claimant has filed and the matter is unresolved. Allegations are not findings.

Two separate civil fraud actions. These are allegations tested in court, not findings of guilt — the pillar is scored as a pending action, not as proven fraud.

  • Enforcement action
    SEC charged NovaTech Ltd. and Cynthia and Eddy Petion with a fraudulent scheme that raised more than $650 million from over 200,000 investors, and charged six promoters alongside them.
    US Securities and Exchange Commission · Press Release 2024-95 / Litigation Release LR-26072 · checked 2026-07-28 · open source ↗
  • Court record
    Attorney General James sued NovaTechFx and AWS Mining, alleging investors were defrauded of more than $1 billion.
    New York State Attorney General · People of the State of New York v. NovaTech Ltd. et al. · checked 2026-07-28 · open source ↗

Client money protection

Crypto deposits only · 13% of score

Funding is accepted only in crypto, so there is no bank rail, no chargeback, and no custodian to compel.

Deposits were taken in crypto assets, so there was no bank rail to reverse and no regulated custodian to compel.

  • Court record
    Complaint describes NovaTech as a multi-level marketing and crypto asset investment programme that took investor funds in crypto assets from 2019 through 2023.
    US Securities and Exchange Commission · SEC v. NovaTech Ltd., et al. (S.D. Fla.) · checked 2026-07-28 · open source ↗

Corporate transparency

Partly identified · 11% of score

An entity is traceable, but ownership or the operating address does not check out.

The operators are named and identifiable in the filings, which is more than most entries here. What was never established is where client funds were actually held.

  • Enforcement action
    Cynthia Petion and Eddy Petion named as the principals operating NovaTech Ltd.; the complaint alleges they siphoned millions of dollars of investor assets for themselves.
    US Securities and Exchange Commission · Press Release 2024-95 · checked 2026-07-28 · open source ↗

Operating record

Collapsed or gone dark · 9% of score

Public record shows withdrawals halted, the site withdrawn, or the operation wound up.

The regulator's own description of the ending: the platform collapsed and investors could not get their money out.

  • Enforcement action
    When NovaTech collapsed, most investors were unable to withdraw their investments, resulting in substantial losses.
    US Securities and Exchange Commission · Press Release 2024-95 · checked 2026-07-28 · open source ↗

Every link above goes to the publishing authority, not to us. Check them.

// Reports From Readers — Second Tier

No first-hand reports on NovaTechFX yet. We publish no invented testimonials, so this stays empty until real ones arrive — the form below is where they go.

// Full Independent Review

01Our Verdict on NovaTechFX

NovaTechFX is a forex broker associated with OFFSHORE / SVG, stating it was established in 2019. NovaTechFX scores 1.5 out of 5.0 on the Forensic Trust Index — grade D, high risk — assessed on 2026-07-28 against 6 cited sources. Our finding in one line: SEC charged founders with $650M Ponzi scheme.

The record is bad enough that we would not deposit here under any circumstances. If you already have money on the platform, try to withdraw it now. That verdict is a reading of documents, not a prediction — every one of them is linked in the evidence panel above, and you are meant to check them rather than trust us.

02What the Record Establishes

On 5 of the six pillars there are documents that settle the question for NovaTechFX: regulatory authorisation — no authorisation found; enforcement and litigation — civil action pending; client money protection — crypto deposits only; corporate transparency — partly identified; operating record — collapsed or gone dark. Those come from US Securities and Exchange Commission and New York State Attorney General, cited in full with links in the evidence panel above — that panel is the review; this is its summary.

03What We Could Not Establish

Nothing in the public record settles regulator warnings for NovaTechFX. Those pillars go unscored, so NovaTechFX's 1.5 rests on 75% of the rubric — a narrower claim than the same figure carrying all six. Hold a document that closes one of these gaps? Send it, and the score moves.

04If You Have Money With NovaTechFX

Send nothing further — no release fee, tax, or verification deposit. Screenshot your balance, history and messages now. Then call your bank and say the word fraud; chargeback windows close in weeks. The step-by-step version is in the guides below.

// Guides
// Review Updates
2024-08-12
ANALYST_SEC

SEC formally charged operators with operating a multi-level marketing crypto Ponzi scheme.

2023-11-20
ANALYST_03

Withdrawals completely frozen. Support unresponsive.

// Company Information
Who Owns It

Operated by Cynthia and Eddy Petion. Registration in St. Vincent.

Where Funds Are Held

Crypto deposits only. Funds routed to personal wallets.

Hidden Risks

100% Ponzi structure. Returns paid from new investor deposits.

How They Promote Themselves

Aggressive MLM network targeting specific religious communities.

// Leave a Review
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