SEC Sues NovaTech for Cryptocurrency Fraud Scheme

SEC's Allegations Against NovaTech
In a significant legal move, the Securities and Exchange Commission (SEC) has filed a lawsuit against NovaTech, a cryptocurrency investment company, and its founders, Cynthia and Eddy Petion. The SEC accused them of orchestrating a fraudulent scheme that deceived investors globally, causing a loss of over $650 million in cryptocurrency assets.