The collapsed NovaTech FX Ponzi scheme seems set to pull its exit-scam on for the foreseeable future.
With a beforehand set April 1st deadline approaching to supply entry to invested funds, Cynthia Petion has now confirmed excuses will proceed for “a number of extra months”.
In a 5am audio message shared with NovaTech buyers on March twenty fifth, Petion acknowledged;
We’re going to be asserting some parameters and modifications that we’re gonna put into place, significantly earlier than or quickly after the April 1st deadline we’re all ready on.
Sorry guys I can not make a proverse “D-day” for NovaTech. Alright.
It can’t be the day that everyone takes every thing out and walks away and… inflicting it to have a unfavourable influence on those who nonetheless wish to be right here.
You guys are gonna have to hang around with me for a number of extra months whereas we work via some modifications.
Petion claims she’ll “put up some info within the backoffice … over the subsequent couple of days”.
NovaTech FX collapsed in early February. Traders had been knowledgeable withdrawals could be disabled “for a interval of 60 days”.
If in case you have a buying and selling account withdrawal in course of, you have got a alternative to go away it within the queue, and wait till April 1st 2023 once we will resume buying and selling account withdrawals, or you’ll be able to cancel your withdrawals and permit your account to proceed to earn, whereas withdrawing earnings weekly.
NovaTech FX lacking that deadline coincides with a 20% discount in web site site visitors between January and February 2023.
Studying between the strains, NovaTech FX withdrawals seemingly exceeded new funding someday in late 2022. The Petions seemingly hoped recruitment of latest victims (and new funding) would choose up in 2023.
That didn’t occur, and so right here we’re. There have been restricted withdrawals, paid out no matter new funding is trickling in, however NovaTech FX’s total stability sheet is deep into Ponzi math territory.
As to how lengthy NovaTech FX can proceed to string buyers alongside; CashFX Group collapsed in November 2021.
Founder Huscuar Lopez hasn’t been seen since then and the Ponzi scheme continues to be promising some “auto-trading” baloney to victims.
One key distinction between NovaTech FX and CashFX Group is that the Cynthia and Eddy Petion are US nationals with ties to the US.
Whether or not the Petions are nonetheless within the US stays unclear.
