New York Seeks $1.3 Billion from Crypto Scammers Who Targeted Prayer Groups

crypto scammers — New York’s attorney general has asked a court to order the founders of crypto platform NovaTech to pay approximately $1.37 billion for defrauding investors, many of whom were targeted through prayer groups.

The state’s legal action, filed on October 23, 2026, alleges that NovaTech founders Cynthia and Eddy Petion operated a pyramid scheme that promised high returns from foreign exchange and crypto trading. The couple is accused of using religious communities and prayer groups to recruit victims, primarily from the Haitian community, before fleeing the United States.

In a related settlement, the attorney general’s office also resolved claims against four top promoters of the scheme. Those individuals have agreed to pay a combined $5.9 million in restitution and are permanently banned from promoting, marketing, or selling securities or commodities in New York.

The enforcement action highlights ongoing regulatory efforts to pursue crypto-related fraud, particularly schemes that exploit community trust. The court filing seeks to hold the fugitive founders accountable for the massive losses suffered by investors.