New York Attorney General Sues Crypto Firms for $1 Billion Fraud

Lawsuit accuses NovaTech and AWS Mining of defrauding immigrant communities through pyramid and Ponzi schemes.

The lawsuit targets NovaTech and AWS Mining for allegedly defrauding over 11,000 New Yorkers and hundreds of thousands nationwide.
The companies are accused of promising high returns and using recruitment bonuses to lure new investors.
Victims were primarily Haitian immigrants, targeted through prayer groups and social media channels.
Founders Cynthia and Eddy Petion allegedly moved to Panama after the schemes collapsed.
The lawsuit seeks restitution for victims and a ban on the companies from future investment activities.