New York AG Seeks $1.3B as Four NovaTech Crypto Fraud Promoters Are Ordered to Pay Nearly $6M
24/10/2026, 02:30:01
Bollcoin, October 23 — New York Attorney General Letitia James announced progress in the case against cryptocurrency pyramid schemes NovaTech and AWS Mining: four major promoters will pay a combined total of nearly $6 million in disgorgement funds to compensate victims, and are permanently banned from the securities, commodities and cryptocurrency industries. The schemes reportedly targeted Haitian and other immigrant communities in particular, promoting high investment returns through prayer groups, social media and WhatsApp groups, defrauding hundreds of thousands of investors worldwide, including more than 11,000 New York State residents who suffered losses.