New York AG Pursues $1,300,000,0000 From Crypto Pyramid Scheme Targeting Prayer Groups

New York Attorney General Letitia James is pursuing over a billion dollars from the operators of a fraudulent cryptocurrency scheme that infiltrated prayer groups and immigrant communities with false promises of easy riches. Attorney General James filed a motion seeking $1.3 billion in damages and disgorgement from the founders of NovaTech, Cynthia and Eddie Petions, following a default judgment in August after they fled the US. In June 2024, New York Attorney General Letitia James sued cryptocurrency trading firm NovaTechFX and cryptocurrency mining company AWS Mining Pty Ltd., accusing them of targeting immigrant communities, particularly Haitian New Yorkers, with fraudulent promises of high investment returns. According to the lawsuit, the companies promoted their schemes through prayer groups, social media and WhatsApp group chats while operating illegal pyramid schemes.

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