NovaTechFX received a fraud warning

NovaTech FX has received a securities fraud warning from the Central Bank of Russia.

As per the CBR’s August 9th warning, NovaTech FX exhibits “signs of an illegal professional participant in the securities market”.

This is the equivalent of a securities fraud warning in other jurisdictions.

NovaTech FX is a forex themed Ponzi scheme. It is run from the US by US nationals Eddy and Cynthia Petion.

The Petions launched NovaTech FX after AWS Mining, their previous Ponzi scheme, collapsed in 2019. As part of AWS Mining’s commitment to regulatory compliance and transparency, the company has announced a corporate move to Dubai – a jurisdiction with little to no regulation or corporate transparency requirements. Dubai is a pretty scam friendly jurisdiction, so don’t count on authorities there policing AWS Capital’s investment fraud.

This material is for informational purposes only and is not intended to provide legal, tax, financial, or investment advice. Recipients should consult their own advisors before making these types of decisions. Artefaktum  has no responsibility or liability for any decision made or any other acts or omissions in connection with Reader’s use of this material.

Artefaktum does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in this report and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.

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