NovaTech FX and Cynthia Petion have did not put in an look at a current regulatory listening to in Canada.
The webinar listening to was held on September twenty eighth. NovaTech FX and Petion (proper) got discover on November 4th.
NovaTech FX and Petion beforehand did not make an look at an earlier Could 2023 listening to.
On account of NovaTech FX and Petion failing to make an look on September twenty eighth, the Capital Markets Tribunal ordered
- OSC shall serve and file a movement by November seventeenth, 2023;
- NovaTech FX shall file a response by November twenty fourth, 2023; and
- one other listening to on the matter is scheduled for November twenty seventh, 2023.
OSC filed a Assertion of Allegations in opposition to NovaTech FX and Petion again in August.
I’m not 100% on what the movement OSC has to file by November seventeenth is. No matter kind of movement it’s although, it’s one step nearer to holding NovaTech FX and Petion legally accountable in Canada.
OSC is in search of an injunction in opposition to NovaTech FX and Petion, in addition to disgorgement of ill-gotten positive factors.
NovaTech FX was a Ponzi scheme run by Petion and husband Eddy.
NovaTech FX started having withdrawal issues in late 2022, prompting the Petions to enter hiding.
BehindMLM referred to as NovaTech FX’s official collapse in March 2023.