Penalty Amount
$5,975,861
Consumers Affected
11,000
The New York Attorney General secured disgorgement settlements totaling $5,975,861 from four promoters of NovaTech and AWS Mining over fraudulent investment claims and an illegal pyramid scheme. The promoters were permanently banned from the securities, commodities, and cryptocurrency industries; the Attorney General separately asked the court to order NovaTech’s founders to pay $1.3 billion, which was not yet an order.
Four promoters agreed to pay disgorgement of $2.05 million, $750,000, $275,861, and $2.9 million for victims, and were permanently banned from the securities, commodities, and cryptocurrency industries. The Attorney General also filed an inquest seeking $1.3 billion from NovaTech’s founders; that amount was requested, not imposed in this action.
This action concerns alleged investment fraud and securities-related conduct, not a privacy violation. In agreements with financial-services, crypto, or investment vendors, review clauses governing authority to offer or broker investments, substantiation and approval of performance and registration claims, referral compensation and recruitment incentives, customer withdrawal rights, recordkeeping, audit access, and compliance representations. Review customer-facing terms and sales scripts for accurate risk and return disclosures; privacy and data-processing clauses are not specifically implicated by the facts described.
Entity
NovaTechFx and AWS Mining Pty Ltd.
Industry
Financial ServicesOfficial Press Release
https://ag.ny.gov/press-release/2026/attorney-general-james-secures-nearly-6-million-crypto-scammers-who-targeted
new york v nova tech ltd et al affirmation 2026
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-nova-tech-ltd-et-al-affirmation-2026.pdf
new york v nova tech ltd et al ciceron stipulation and conse
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-nova-tech-ltd-et-al-ciceron-stipulation-and-consent-2026.pdf
new york v nova tech ltd et al corbett stipulation and conse
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-nova-tech-ltd-et-al-corbett-stipulation-and-consent-2026.pdf
new york v nova tech ltd et al roy assurance of discontinuan
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-nova-tech-ltd-et-al-roy-assurance-of-discontinuance-2026.pdf
new york v nova tech ltd et al zizi stipulation and consent
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-nova-tech-ltd-et-al-zizi-stipulation-and-consent-2026.pdf
New York Attorney General Enforcement Page
https://ag.ny.gov/press-releases
"cryptocurrency trading company NovaTechFx (NovaTech) and cryptocurrency mining company AWS Mining Pty Ltd. (AWS Mining)"
"will pay millions in disgorgement for the benefit of victims"
"Frantz Ciceron will pay $2.05 million"
"James Corbett will pay $750,000"
"Ricardo Roy, Sr. will pay $275,861"
"Martin Zizi will pay $2.9 million."
$240K
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$240K
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$1.9M
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