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Russian regulators at the CBR have issued a fraud alert for NovaTech FX’s securities.

NovaTech FX displays “evidence of an unauthorized professional player in the securities market,” the CBR said on August 9.

In other countries, this would be considered a securities fraud warning.

A Ponzi scam with a focus on foreign exchange, NovaTech FX is best described as such. Eddy and Cynthia Petition, both American citizens, administer it from their home country.

After the 2019 collapse of the Petions’ last Ponzi scam, AWS Mining, Petitions founded NovaTech FX.

The United States (63%), Canada (7%), and South Africa (4%) are now showing up as the top three countries sending traffic to NovaTech FX’s website on SimilarWeb.

As far as we can tell, neither NovaTech FX nor the Petitions are SEC or CFTC registered.

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