Bitcoin Magazine NY Seeks $1.37 Billion Judgment Against Operators of NovaTech Crypto Ponzi Scheme
New York Attorney General Letitia James is trying to secure a $1.37 billion judgment against the operators of NovaTech and its predecessor AWS Mining, two successive cryptocurrency investment schemes that allegedly defrauded hundreds of thousands of investors worldwide out of more than $1 billion.
Alleged founders Cynthia and Eddy Petion never appeared in court and, according to the AG’s office, fled the country.
“NovaTech and AWS Mining scammed thousands of vulnerable New Yorkers by telling them they were making a safe investment when in reality, they were victims of a pyramid scheme,” James said in a statement. “These scammers targeted immigrant and religious communities with the promise of a better life but instead robbed them of their life savings.”
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