The October 23, 2026 court decision dismissed criminal fraud investigations against U.S. launch adviser Hayden Davis, as well as associates Mauricio Novelli and Manuel Terrones Godoy

Overview Debates Related claims Topics Sources

Cynthia and Eddy Petion departed the United States prior to the August 2025 default judgment in the NovaTech case and failed to produce court-ordered investor records

Argentina's fintech chamber raised concerns that the sudden February 2025 LIBRA cryptocurrency collapse could constitute a rug pull scam targeting crypto investors

Federal Judge Marcelo Martínez de Giorgi cleared Karina Milei, General Secretary of the Presidency of Argentina, finding no evidence she received payments to arrange meetings for LIBRA creators

New York's $1.37 billion monetary request follows an August 2025 default judgment issued against Cynthia and Eddy Petion and NovaTech after the founders failed to respond to the state's lawsuit

New York Attorney General Letitia James announced the NovaTech scheme settlements totaling nearly $6 million with four NovaTech promoters: Martin Zizi, Frantz Ciceron, James Corbett, and Ricardo Roy Sr.

Cynthia Petion, the sole authorized user on NovaTech's investor account, authorized withdrawals of at least $134.5 million to wallets belonging to herself and Eddy Petion

New York Attorney General Letitia James asked a state court on October 22, 2026 to order NovaTech founders Cynthia and Eddy Petion to pay roughly $1.37 billion, comprising $1.13 billion in disgorgement and $232.5 million in interest

All four NovaTech promoters agreed to permanent bans from the securities, commodities, and cryptocurrency industries

Blockchain researchers identified approximately $99 million withdrawn from LIBRA liquidity pools through eight digital wallets linked to the cryptocurrency's creator

On October 23, 2026, Argentine Federal Judge Marcelo Martínez de Giorgi dismissed the criminal fraud investigation against Argentine President Javier Milei over the February 2025 LIBRA memecoin collapse, officially closing proceedings without reversing investor financial losses

On February 14, 2025, Argentine President Javier Milei promoted the LIBRA memecoin in a post on X, triggering a rapid increase in the token's market price

Argentine law enforcement authorities initiated a criminal investigation to examine potential fraud and the involvement of individuals associated with the February 2025 LIBRA memecoin launch

Argentine President Javier Milei stated he acted in good faith when sharing LIBRA and accused political rivals of attempting to exploit LIBRA's token collapse

U.S. businessman Hayden Davis acknowledged holding nearly $100 million following LIBRA's collapse but denied any criminal wrongdoing in connection with the LIBRA token launch

Argentine Prosecutor Eduardo Taiano formally requested the dismissal of the criminal fraud investigation into President Javier Milei's promotion of the LIBRA memecoin

Following Argentine President Javier Milei's February 14, 2025 X post, the LIBRA memecoin experienced a sharp price surge followed by a complete collapse within hours

Argentine President Javier Milei deleted his X post promoting LIBRA shortly after sharing it, denying direct ties or detailed knowledge of the LIBRA cryptocurrency project

The Petions, Cynthia and Eddy, resided in Wellington, Florida until roughly May 2022, and SEC filings located Cynthia Petion in Panama as of August 2024

New York Attorney General Letitia James is seeking $4.7 million from Cynthia and Eddy Petion tied to the AWS Mining crypto mining scheme

Judge Alvin K. Hellerstein ruled under Federal Rule of Civil Procedure 60 that newly acquired knowledge of facts existing when the January 2025 consent order was entered does not constitute a significant change in factual circumstances