NovaTech FX @ BehindMLM

NovaTech FX and co-founders Cynthia and Eddy Petion, have been fined $110 million by the state of Maryland. Previously unknown to BehindMLM, charges were filed against NovaTech FX and the Petions by the Securities Division of the Office of the Attorney General.

The SEC claims it has confirmed NovaTech FX co-founders Cynthia and Eddie Petion are not in Dubai.

MLM crypto Ponzi promoter Lisa Anne Boisselle, aka Lisa Anne Homer and Lisa Anne Jager, has been ordered to pay $1,398,900 in restitution. The Arizona Corporation Commission (ACC) also ordered Boiselle to pay a $75,000 fine.

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.

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…]

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…]

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

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

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…]

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.