NY Seeks $1.37 Billion Judgment Against Operators of NovaTech Crypto Ponzi Scheme
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New York Attorney General Letitia James is seeking a $1.37 billion judgment against NovaTech and its operators, alleging they defrauded more than 11,000 investors through a crypto investment scheme. The case highlights continued regulatory efforts to pursue large-scale crypto fraud and recover funds for victims. The action concerns NovaTech’s alleged misconduct, not Bitcoin’s protocol or network, but reinforces the reputational and compliance risks facing the broader crypto industry.
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