U.S. Chief District Judge Cecilia M. Altonaga of the Southern District of Florida. Credit: J. Albert Diaz/ALM SEC Sues Couple, Their Company and Its Promoters in $650M Global Crypto Fraud Case
"The only way to avoid a lot more victims in the next decade is if the industry is regulated," said Joel Hirschhorn of Hirschhorn Law, who is not involved in the matter.
August 12, 2024 at 06:06 PM
3 minute read
What You Need to Know
- The SEC sued a married couple, their company and the company's promoters in a Miami federal court over a $650 million global crypto fraud scheme.
- The suit claims that Cynthia and Eddy Petion, their company NovaTech and several other defendants committed various securities violations.
- The case is pending before U.S. Chief District Judge Cecilia M. Altonaga, who presides in the Southern District of Florida.
The U.S. Securities and Exchange Commission sued a married couple, their company and several of the company's promoters on Monday for a fraudulent scheme that raised more than $650 million in cryptocurrency from around 200,000 investors worldwide.
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