The New York State Attorney General's Office (NYAG), represented by its head Letitia James, has filed a lawsuit against NovaTechFx and AWS Mining on charges of fraud and defrauding investors.
According to the report, the companies worked on the principle of a financial pyramid, their victims were more than 11,000 New Yorkers. The schemes mainly targeted religious communities, as well as Haitian immigrants.
The total amount of damage exceeded $1 billion, the NYAG said.
"We see the real danger of unregulated cryptocurrency platforms with similar schemes, but New Yorkers can rest assured that we will use the tools at our disposal to fight fraudsters," the statement said.
James intends to seek a ban on companies and their founders from conducting any business related to securities, imposing fines and compensation for damages.
• Source: https://ag.ny.gov/press-release/202...ocurrency-companies-novatechfx-and-aws-mining
According to the report, the companies worked on the principle of a financial pyramid, their victims were more than 11,000 New Yorkers. The schemes mainly targeted religious communities, as well as Haitian immigrants.
The total amount of damage exceeded $1 billion, the NYAG said.
"We see the real danger of unregulated cryptocurrency platforms with similar schemes, but New Yorkers can rest assured that we will use the tools at our disposal to fight fraudsters," the statement said.
James intends to seek a ban on companies and their founders from conducting any business related to securities, imposing fines and compensation for damages.
• Source: https://ag.ny.gov/press-release/202...ocurrency-companies-novatechfx-and-aws-mining
