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SEC brings fraud charges against crypto startup that targeted prayer groups

Bitcoin token in a trolley on laptop
Photo: Getty Images

Alexander Barzacanos

1 min read
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Investment “cult” is accused of stealing $650m in Ponzi-like scheme.

On Monday the SEC charged crypto investment startup NovaTech Ltd. and its husband-and-wife owners Cynthia and Eddy Petion with fraud for orchestrating a Ponzi-like scheme that raised more that $650m in crypto assets. The agency also charged six of the company’s promoters with fraud: Martin Zizi, Dapilinu Dunbar, James Corbett,

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