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The Multistate law firm of Morris Legal announced a massive class action lawsuit against NovaTech, Ltd., CEO Cynthia Petion, husband Eddy Petion, Jean Martin Zizi, Frantz Ciceron, John Garofano, Bob St. Louis, James Corbett, Stanley Richards, Micheline Thomas, Travis Biebertiz and other co-conspirators who willingly and intentionally constructed a Ponzi scheme in order to defraud millions of investors of over two billion dollars. The case was filed in the Federal Court of the Southern District of New York ( Mullins v. Novatech, Cynthia Petion, Martin Jean Zizi et., al - Case Number- 1:24-CV-00824. The case has been assigned to Judge Vernon S. Broderick, a former Federal prosecutor.
In June of 2019 Cynthia Petion, self-titled “Reverend CEO,” launched NovaTech, illegally offering investment services without a broker’s license. For the last four years NovaTech and its officers have engaged in patterns of racketeering, offering passive investment opportunities around the world under false pretenses, and targeting those who know very little about crypto currency and the financial markets. Working in concert, defendants promised investors guaranteed returns of 3% weekly from investments in crypto currency. In fact, Morris Legal’s investigation revealed that Cynthia Petion and co-conspirators neither invested nor intended to invest stockpiled funds as guaranteed. Instead, like a classic Ponzi scheme, defendants funded payments to investors with contributions from other investors.
Between 2022 to 2024, countries like Russia, South Africa, Estonia, Nigeria, St. Vincent and the Grenadines, British Virgin Islands, several provinces in Canada including Alberta, British Columbia, Ontario, and Saskatchewan, several states in the United States including California, Wisconsin, and Washington state have issued cease and desist letters and fines against NovaTech, and Cynthia and Eddy Petion for fraud, misrepresentation and violation of securities laws. Despite fines and orders, defendants continued the scheme until its collapse in February 2023. Cynthia Petion and her husband subsequently went into hiding the following May.
Morris Legal has been retained by the named plaintiff on behalf of all NovaTech investors to institute a class action. lawsuit seeking redress for this massive international fraud. A copy of the class action lawsuit can be found at: www.truenewsblog.com.
If you made payments to NovaTech, you are eligible to join the class action lawsuit by calling (305) 444- 3437, or emailing or register at: www.WilMorrislaw.com.
Nate Ballantyne
Morris Legal, LLC
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