NY Seeks $1.37 Billion Judgment Against Operators of NovaTech Crypto Ponzi Scheme
By Mathew Di Salvo
AI summary of the source article
New York Attorney General Letitia James is seeking a $1.37 billion judgment against the operators of crypto schemes NovaTech and AWS Mining. Alleged founders Cynthia and Eddy Petion fled the country after defrauding investors out of over $1 billion.
Key facts
- New York's Attorney General is seeking a $1.37 billion judgment against NovaTech, AWS Mining, and founders Cynthia and Eddy Petion.
- Of the more than $1 billion deposited into NovaTech between 2019 and 2023, only about $26 million was ever traded, with $18.2 million lost.
- Four top promoters agreed to pay nearly $6 million in disgorgement to victims and accepted bans from the securities, commodities, and cryptocurrency industries.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine NY Seeks $1.37 Billion Judgment Against Operators of NovaTech Crypto Ponzi Scheme Two successive crypto frauds took investors for more than $1.1 billion. Now New York's attorney general is asking a court to make the operators pay it back—with interest. This post NY Seeks $1.37 Billion Judgment Against Operators of NovaTech Crypto Ponzi Scheme first appeared on Bitcoin Magazine and…