New York recovers $6 million from cryptocurrency scammers

New York Attorney General Letitia James announced that four promoters of cryptocurrency investment schemes have agreed to a combined settlement of nearly $6 million. The schemes specifically targeted Haitian and other immigrant communities through social media, WhatsApp, and church prayer groups.

The promoters—Martin Zizi, Frantz Ciceron, Ricardo Roy Sr., and James Corbett—are permanently barred from working in the securities, commodities, and cryptocurrency industries. The settlements stem from a 2024 lawsuit against NovaTechFx and AWS Mining Pty Ltd., which authorities describe as pyramid schemes that defrauded hundreds of thousands of investors globally.

In New York, more than 11,000 residents across New York City, Long Island, Westchester, Rockland, and Orange counties invested in these schemes, resulting in tens of millions of dollars in losses. Under the terms, Martin Zizi will pay $2.9 million, Frantz Ciceron $2.05 million, James Corbett $750,000, and Ricardo Roy will contribute the remaining balance.