🌈💥NovaTech, a cryptocurrency company, has been charged by the U.S. SEC with operating a $650 million pyramid scheme 🚨.$BTC $USDC $XRP

Founders Eddie and Cynthia Petion allegedly defrauded over 200,000 investors by promising high returns on digital asset investments, but instead used funds for personal gain 💸. The scheme ran from 2019 to 2023, leaving most investors unlikely to recover their losses 😞.

The SEC seeks:

- Permanent injunctive relief 🚫

- Disgorgement of ill-gotten gains 💸

- Civil penalties 📝

This case highlights the risks of investing in unregistered cryptocurrency schemes and the importance of thorough research before investing 💡. The SEC's action aims to hold NovaTech's founders accountable for their alleged fraudulent activities and protect investors from further harm 🛡️.

Investors are reminded to be cautious and skeptical of high-return investment opportunities, especially those that seem too good to be true 🚨. Always verify the registration status of investment opportunities and report suspicious activities to the SEC 📊.