Morris Legal Filing $2 Billion Securities Fraud Lawsuit Against Novatech, CEO Petion, and Co-conspirators

On February 5, 2024, in New York, New York, the national law firm Morris Legal announced a gigantic
class action suit against NovaTech Ltd, its CEO Cynthia Petion, her spouse Eddy Petion, Jean Martin Zizi,
Frantz Ciceron, John Garofano, Bob St. Louis, James Corbett, Stanley Richards, Micheline Thomas, Travis
Biebertiz and additional alleged partners in crime who knowingly engaged in a Ponzi scheme. The goal was to swindle numerous investors out of over two billion dollars. The suit has been registered in the Federal Court of the
Southern District of New York one year post the scheme’s downfall.

In 2019, calling herself the “Reverend CEO”, Cynthia Petion kicked off NovaTech, illegally providing
investment services sans a broker’s certification. NovaTech and its executives have
participated in racketeering activities for the past four years, presenting fraudulent passive investment opportunities globally and aiming to exploit those with limited knowledge of crypto currency and financial markets.
Conspiring together, the accused assured investors of 3% weekly returns from crypto currency investments.
Hence, in reality, Morris Legal’s probe exposed that Cynthia Petion and her partners
had no intentions to invest accumulated funds as promised. Instead, replicating a characteristic Ponzi scheme, defendants used funds from new investors to payout existing ones. From 2022 to 2024, NovaTech, Cynthia and Eddy Petion, received penalties and cease and desist letters from countries like Russia, South Africa, Estonia, Nigeria, St. Vincent and the Grenadines, British Virgin Islands and various provinces in Canada including Alberta, British Columbia, Ontario, and Saskatchewan, in addition to states in the United States like California, Wisconsin, and Washington state, for fraud, deceit and breaching securities regulations.
Despite these penalties and orders, defendants pursued the scheme until it crumbled in February 2023. Thereafter in May, Cynthia Petion and her husband went into hiding.

On behalf of all NovaTech investors, Morris Legal has been engaged by the lead plaintiff to initiate a
class action suit seeking compensation for this enormous, global fraud.

Any NovaTech investor who has made payments is eligible to partake in the class action suit by contacting (305) 444-
3437, or registering at: www.WilMorrislaw.com.
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