Canada has warned NovaTech FX for the second time about securities fraud.

The Alberta Securities Commission warned investors about NovaTech FX on October 14.

Companies on the list, according to the ASC’s website,

are not registered with the ASC and seem to be doing things that either require registration under Alberta securities laws or could be investment scams.

In other places, this is the same as a warning about securities fraud. NovaTech FX is also definitely a scam because it is a Ponzi scheme.

The ASC is the second Canadian government agency to take action against NovaTech. A day earlier, British Columbia warned NovaTech in the same way.

Other than in Canada California and the Central Bank of Russia have both warned Novatech FX about securities fraud.

NovaTech FX is getting more attention from regulators at the same time that its founders, Eddy and Cynthia Petion, sold a property in Florida.

In addition to the case in California, it is thought that a federal case against NovaTech FX is in the works.

NovaTech FX promises a passive return every week. It is based in the US and most of its investors are from the US.

About two weeks ago, Cynthia Petion said on Instagram that she was in Milan, Italy. It’s not clear if the Petions are still in the US.

This article has a link to the ASC’s Investment Caution List, but NovaTech FX might not be on the list if you’re reading it months or years after it was published.

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