According to Foresight News, the United States Securities and Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its leaders, Cynthia and Eddy Petion, for orchestrating a cryptocurrency fraud scheme. The SEC alleges that the scheme deceived over 200,000 investors worldwide, including a significant number of Haitian Americans.The SEC's complaint outlines that under the leadership of the Petions, NovaTech was promoted as a multi-level marketing (MLM) and cryptocurrency asset investment program. The charges indicate that the company misled investors about the nature and potential returns of their investments, leading to substantial financial losses for many involved.This case highlights the ongoing regulatory scrutiny and legal actions taken by the SEC to protect investors from fraudulent schemes in the rapidly evolving cryptocurrency market. The SEC continues to emphasize the importance of due diligence and caution for investors considering involvement in cryptocurrency and MLM investment opportunities.
