NovaTech FX has obtained a securities fraud warning from the Australian Securities and Investments Fee (ASIC).
As per ASIC’s February sixteenth warning, NovaTech FX
is more likely to offer monetary companies to Australian shoppers.
It doesn’t maintain an Australian monetary companies licence or Australian credit score licence from ASIC, and isn’t authorised by a licensee.
Providing securities with out registration with ASIC constitutes securities fraud underneath Australian legislation.
NovaTech FX was a Ponzi scheme run by serial scammers Cynthia and Eddy Petion.
The Petions went into hiding within the lead as much as NovaTech FX collapsing in February 2023.
Exterior of Australia, NovaTech FX has attracted regulatory consideration from Russia, California, Canada, Wisconsin and Washington.
The SEC additionally not too long ago confirmed a federal fraud investigation into NovaTech FX and the Petions is underway.