NovaTech FX has acquired a securities fraud warning from Quebec’s Autorite des Marches Financiers.
NovaTech LTD was added to the AMF’s investor warnings listing on February third, 2023.
The AMF identifies NovaTech FX as a “high-risk platform” involving “crypto property” and foreign exchange”.
NovaTech LTD shouldn’t be registered with the Autorité des marchés financiers (AMF) and isn’t licensed to solicit traders in Québec.
That is the equal of a securities fraud warning in different jurisdictions.
Along with Quebec, NovaTech FX has acquired securities fraud warning from Saskatchewan, Ontario, Alberta and British Columbia.
On February sixteenth Ontario escalated its regulatory enforcement, ordering NovaTech FX to stop operations throughout the province. Investigations are ongoing.
Within the US California’s DFPI issued a NovaTech FX securities fraud stop and desist final December. Federal regulatory motion is anticipated to comply with in some unspecified time in the future.
NovaTech FX is a Ponzi scheme run by Eddy and Cynthia Petion.
The Petions are US nationals with ties to New York and Florida. Whether or not they’re nonetheless within the US has been unclear since late 2022.
With regulatory consideration on NovaTech FX rising, traders have been prohibited from withdrawing invested funds final month.
As of January 2023, Related tracks the US (68%) and Canada (6%) as high sources of site visitors to NovaTech FX’s web site.