The collapsed NovaTech FX Ponzi scheme seems set to tug its exit-scam on for the foreseeable future.
With a beforehand set April 1st deadline approaching to offer 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 said;
We’re going to be saying some parameters and adjustments 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 little 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 by way of some adjustments.
Petion claims she’ll “publish some data within the backoffice … over the following couple of days”.
NovaTech FX collapsed in early February. Traders have been knowledgeable withdrawals can be disabled “for a interval of 60 days”.
You probably have a buying and selling account withdrawal in course of, you’ve gotten a selection to depart it within the queue, and wait till April 1st 2023 once we will resume buying and selling account withdrawals, or you possibly can cancel your withdrawals and permit your account to proceed to earn, whereas withdrawing income 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 possible exceeded new funding someday in late 2022. The Petions possible hoped recruitment of recent 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 general 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 remains 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.
