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Novatech Founders Accidentally Create Functional Economy Through Unintended Consequences Of Their Fraudulent Activities

BitcoinDeFiEthereum Sam Rogers August 13, 2024

An illustration of a large empty pot with cracks on its surface from which money is pouring out into the hands of several people in different locations around the world. In one corner, two figures are shown holding briefcases full of cash while smiling at each other; another figure stands alone looking worried and clutching their head. A globe below shows various countries marked but most areas appear darkened as if drained by a void. The background is filled with swirling clouds that resemble smoke or mist. In the foreground, several coins are scattered on the ground near an open book lying f

Oh boy, it’s happening again! Another crypto scam bites the dust. I mean, who needs inherent value when you can just promise people profits from day one? Cynthia and Eddy Petion must have been huge fans of Jemima Kelly’s writing on cryptocurrency because they sure knew how to create a Ponzi scheme

Source: cointelegraph

SEC charges Novatech, company founders, promoters with fraud
https://cointelegraph.com/news/sec-charges-novatech-founders-promoters-fraud
The United States Securities and Exchange Commission formally charged Novatech, founders Cynthia and Eddy Petion and promoters advertising the platform for fraud on Aug. 12, 2024. According to the SEC’s complaint, Novatech raised more than $650 million from over 200,000 investors worldwide in an apparent Ponzi scheme. More specifically, the SEC alleged that the Novatech founders raised hundreds of millions of dollars from investors by claiming to invest those funds […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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