NovaTech FX desperate for new victims, 50% recruitment bonus
Back in February NovaTech informed investors it was “temporarily freezing” withdrawals for 60 days.
Last week Cynthia Petion confirmed withdrawals would remain frozen past the April 1st deadline.
What NovaTech FX investors did get on April 1st, was news of further restrictions.
As per Petion’s April 1st “announcement update“, residual recruitment commissions are now disabled. Those funds will instead contribute to a 50% bonus on the direct recruitment commission.
We feel the above changes will help reward members who are actively investing and building with our business and wish to continue doing so, while eliminating unnecessary compensation that may cause further strain on our business model.
In other words, unless you’re personally recruiting new victims into NovaTech FX, you’re not earning on new investment.
NovaTech FX’s “Profit Sharing Pool”, which sets aside 10% of company-wide invested funds to pay to top ranked promoters, is also being “temporarily suspended”.
With respect to withdrawals, NovaTech FX investors will be able to submit withdrawal requests on invested funds (“trading balance”).
These withdrawal requests will be permitted on the “1st to the 5th of every month, payable by the 30th of each month”.
The following additional restrictions apply;
Capital (Trading balance) requests will be limited to no more than 5% of trading balance for the month of April. Increasing to 10% for the month of May, and 15% for the month of June and ongoing.
Trading balance requests may only be made once a month.
A 5% withdrawal fee will apply to all TRADING cash out requests.
New registrations may not request a trading balance withdrawal for first 90 days.
All changes will apply for as long as needed, till such time that NovaTech feels these parameters can be adjusted.
While a few selective invested fund withdrawal requests have been honored, the majority remain in limbo. Petion advises all existing invested fund withdrawal requests, which don’t fall within the new restrictive rules, will be cancelled.
Rather than just admit the Ponzi is over, the Petions are hoping new investment picks up.
With the writing on the wall regarding getting funds out of NovaTech, that’s unlikely to happen (recruitment was already down Q4 2022, leading to the initial collapse).
The Petions are US nationals and NovaTech FX primarily targets US residents.
Following on from a state-level securities fraud warning from California last November, federal regulatory action against NovaTech FX is anticipated at some point.
Whether the Petions are still in the US has been unclear since late 2022.
Any company who cannot pay current members their money but is actively recruiting new people is a SCAM.
They are now trading our money against our request to get out. And when they have their “first negative week” of “trading” they’ll have an excuse for the losses they’ll cause.
They have created a cult like following and I understand why. Top investers have not been effected.
Anyone who has money in there or has people under there is still seeing some movement, albeit limited and slow, so they don’t realize how bad it is for the people under them whose funds are literally being held hostage.
Since we all know novatech isn’t trading. The ethical thing to do at this point is just return initial investment and admit the front of roi is just balony.
However. They are unethical to the max, and if I even see 500$ of my original 8k principle at this point, I’ll be completely shocked.
Recruiters were victim to this scam too up to this point imho. But anyone who recruits in this cesspool of lies is just as guilty as the ring lords.
The Petions have to answer to God for their folly and if they get away with it in this life they won’t in the next.
I hope there is a class action lawsuit against them we can join eventually.
The sad part is, when they made the first excuse for April, they dangled a carrot for investors to cancel their withdraw and receive roi during the waiting period.
By this point it was blatantly evident the were scammers. So I did not take the bait. But now come April 1 they’ve forced us back into bed with them, financial rape, so our reward for not canceling and waiting in line is, there is no line, and your request is canceled anyway.
I hope Tahiti treats them well because hell will not if they don’t repent of this thievery.
At the end of the day. We shouldn’t invest what we can’t afford to lose. We fell for a scam at the word of someone we trusted who believed a lie. And now we pay for their great escape.
Now we know better and hopefully we’ll do better in the future.
FTFY. Also the Petions are in Tahiti? Since when?
Not literally. Just the figurative place of paradise where Ponzi scheme leaders disappear into the abyss while their body count is left behind to deal with reality.
U know of people who requested money since january from their trading and were able to get out?
The notice said they’re moving requests back to trading. They did not do that on my account.
I wonder if they’re hoping people will cancel their own requests to remove liability.
Not trading. They have been paying a small number of bonus account withdrawals from whatever new investment trickles in.
Comments in the scam fb groups suggest that there are multiple problems with members requesting trading account withdraws…it’s a (well planned) mess…
And many are now fed up and starting to report Cynthia to the authorities…
Their not in Tahiti. But they are in Dubai.
They sold their home in Florida with notice and packed up and went to Dubai in late 2023.
As likely as that is, I’d need some sort of proof to report.
Readers also shouldn’t push the Petions fleeing to Dubai unless they can verify.
I pray all of us can get back our principal of what we put in. Because for sure they don’t have our profits to give to us.
I think all who evolved in all these schemes must be hell accountable. Even though they didn’t ask us join their platform. But hey, we all are desperate hard working citizens who is looking a way out of life, to owned a house was lots of us dreams on NovaTech.
But if this platform disappear for real, them Eddy and Cynthia will pay for all the lies and corruption they have broadcast.
CAUSE, EFFECTS AND KARMA will visit their children’s children’s and grandchildrens.
This lady Cynthia tries to use God as a crutch watch it when the Judgment of God crushes her head.
they can’t run all around the world they’re going to end up getting found like Osama Bin Laden and Saddam Hussein was found then you’re going to spend the rest of their life in prison.
they need to refund everybody their money right now before this gets terrible for them. this is going to be really bad for them.
they’re retarded if they think they can’t get found everybody knows who they are in the world isn’t that big/ they need to refund the funds immediately for the government sends.