NovaTech FX’s exit-scam full, payouts disabled

The fact of an announcement issued by NovaTech FX final week has been clarified over the weekend.

As of Could eleventh, NovaTech FX has ceased paying out weekly returns and recruitment commissions.

As per NovaTech FX’s announcement;

Please word we’re conscious of a problem that’s presently inflicting miscalculations with regard to commissions.

We’re presently nonetheless investigating this difficulty to seek out the basis trigger, however will sadly must pause all bonus payouts till the problem is resolved.

At first it appeared this might solely apply to recruitment commissions.

NovaTech FX traders nevertheless didn’t obtain a weekly return over the weekend, confirming all payouts in NovaTech have now stopped.

NovaTech FX did state that…

throughout this time, present cashout requests proceed to be processed

…nevertheless this appears unlikely, with it being an open secret that NovaTech FX withdrawal requests have largely gone unpaid over the previous few months.

NovaTech FX had promised to refund Canadian traders after a number of Canadian regulatory warnings. Up to now nevertheless that hasn’t transpired.

NovaTech FX was additionally a no-show at a latest regulatory listening to in Ontario.

What little NovaTech has paid out over the previous few months has been tied to new recruitment. NovaTech FX successfully collapsed recruitment once they banned US and Canadian purchasers earlier this week.

Collectively, the US and Canada make up the overwhelming majority of NovaTech FX traders. As tracked by SimilarWeb, in April 2023 the US and Canada accounted for 75% of NovaTech FX’s web site site visitors.

All issues thought of, NovaTech FX’s exit-scam is now full. The one supplementary info left to verify is whether or not founders Cynthia and Eddy Petion have fled the US.

For reference, listed here are the occasions that led as much as NovaTech FX’s collapse and now accomplished exit-scam:

1. Could 2022 – Cynthia and Eddy Petion promote residential house in Florida and go into hiding
2. August tenth, 2022 – NovaTech FX fraud warning from Central Financial institution of Russia
3. October thirteenth, 2022 – In response to issues about securities fraud, Cynthia Petion endorses declare FBI audited and accredited NovaTech FX
4. October thirtieth, 2022 – NovaTech FX withdrawal issues start following regulatory fraud warnings from Russia and BC, Canada
5. November twenty sixth, 2022 – California’s DFPI points NovaTech FX securities fraud warning
6. November twenty ninth, 2022 – NovaTech FX orders traders to cover proof of fraud
7. February sixth, 2023 – NovaTech FX collapses by disabling withdrawals, guarantees to re-enable them on April 1st
8. March 18th, 2023 – Nationwide NovaTech FX securities fraud warning issued throughout Canada
9. April 1st, 2023 – NovaTech FX fails to re-enable withdrawals, as a substitute imposes extreme restrictions
10. April seventeenth, 2023 – NovaTech FX fined $50,000 for securities fraud in Wisconsin
11. April thirtieth, 2023 – SEC investigation into NovaTech FX confirmed by EmpiresX fraudster Joshua Nicholas (word the context of Nicholas’ declare stays a thriller)
12. Could tenth, 2023 – NovaTech FX formally abandons US and Canada
13. Could eleventh, 2023 – NovaTech FX disables weekly returns and recruitment commissions

Cynthia and Eddy Petion’s present whereabouts and standing stay unknown.

Ricardo Roy Jr., who as I perceive it’s associated to Cynthia and can be a NovaTech FX govt insider, has additionally disappeared.