NovaTech FX @ BehindMLM

NovaTech FX’s Petions may be hiding in Dubai, says SEC

Having failed to locate NovaTech FX co-founders Cynthia and Eddy Petion in Panama, the SEC now opines the Petions may have fled to Dubai. The SEC’s latest disclosure was made in a September 29th filed declaration exhibit. The exhibit was attached to a motion seeking permission to serve the Petions via alternative service.


Lisa Boisselle ordered to cease securities fraud in AZ

On January 6th, 2021, Lisa Anne Boisselle joined a group of insurrectionists and stormed the US Capitol. A month later Boisselle began defrauding consumers through promotion of MLM crypto Ponzi schemes. Despite mounting losses for her victims, as of 2025 Boisselle is still allegedly promoting scams. Now, the Arizona Corporation Commission has ordered Boisselle to [Continue reading…]


NASAA urges fed gov not to weaken state securities regulators

The North American Securities Administrators Association (NASAA), has urged the US House Committee on Financial Services not to weaken state securities regulators. Several MLM related fraud cases, initiated by state regulators in the US, are cited in support. NASAA is made up of US state regulators, as well as their equivalents in the District of [Continue reading…]


NovaTech FX & Cynthia Petion fined $2.5 million in Canada

Ontario’s Capital Markets Tribunal has handed down a $2.5 million fine to NovaTech FX and Cynthia Petion.


Victim restitution details in Martin Zizi’s NovaTech FX settlement

Details of how the SEC intends to handle victim restitution have been revealed in Jean Martin Zizi’s NovaTech FX settlement.


SEC sues NovaTech FX’s Petions & Ponzi promoters

The SEC has filed suit against NovaTech FX’s founders and several top promoters. As per the federal regulator’s August 12th filed lawsuit, Cynthia and Eddie Petion ran a $650 million plus Ponzi scheme. In addition to NovaTech FX’s Petion co-founders, the SEC has also sued promoters Martin Zizi, Dapilini Dunbar, James Corbett, Corrie Sampson, John [Continue reading…]


CMT finds NovaTech FX violated securities law in Ontario

The Capital Markets Tribunal has ruled NovaTech FX committed securities fraud in Ontario. Following analysis of evidence submitted by the Ontario Securities Commission (OSC), CMT published its findings on July 22nd, 2024.


NYAG sues NovaTech FX, AWS Mining & the Petions

New York Attorney General Letitia James has sued NovaTech FX, AWS Mining and Eddie and Cynthia Petion for fraud. Through NovaTech FX and AWS Mining, the NYAG alleges the Petions “defrauded thousands of investors worldwide out of over a billion dollars”.


NovaTech FX promoter securities fraud C&D from Ohio

A NovaTech FX Ponzi promoter has received a securities fraud cease and desist from Ohio. Steven Douglas Alexander, of Cincinnati, is cited as a Respondent in the Ohio Division of Securities March 22nd order.


GSPartners & NovaTech FX “crypto scam” warning from MA

GSPartners and NovaTech FX have been classified as “cryptocurrency scams” by the Massachusetts Attorney General’s Office. As per a press-release issued earlier this week, GSPartners and NovaTechFX are among a list of scams the MA AG’s Office warns of having ties to criminal activity.