Jean Martin Zizi agreed to a $100,000 civil penalty and further disgorgement to be determined by a court as part of a settlement with the Securities and Exchange Commission (SEC) over his role promoting NovaTech FX. Zizi, who allegedly targeted Haitian-American investors, also faces a permanent injunction against future fraudulent activities.

The SEC will hold the collected funds, including Zizi's civil penalty and any ordered disgorgement, until a court approves a plan for distribution to victims. This distribution plan will operate under the Fair Fund provisions of the Sarbanes-Oxley Act of 2002. The court will retain jurisdiction over the fund's administration and disbursement.

Victims seeking to report losses currently have no direct avenue. The SEC has obtained full access to NovaTech FX's financial and accounting records from its Chief Technology Officer, Ricardo Roy Jr. Forensic accounting is expected to reconstruct the flow of investor money, detailing who invested, how much, and who withdrew funds.

Summons have been issued for other NovaTech FX defendants as of August 13th. The SEC's proposed distribution plan will outline the process for compensating defrauded investors.