New York Attorney General Letitia James sued two cryptocurrency companies and their promoters in a Manhattan state court, alleging they defrauded over $1 billion from thousands of victims by exploiting their religious faith, Reuters reported.
The lawsuit alleges that investors, lured by promises of weekly profits, sent NovaTech Ltd. said amount over nearly four years before it collapsed in May 2023. Of that amount, only $26 million was used for trading, the outlet says.
