NY Attorney General Recovers Nearly $6 Million From Crypto Pyramid Scheme That Targeted Immigrant Communities

New York Attorney General Letitia James secured nearly $6 million from four promoters of a cryptocurrency pyramid scheme that targeted immigrant communities. The state is also seeking an additional $1.3 billion from the operation’s founders. fotobubas/Shutterstock

New York Attorney General Letitia James has secured nearly $6 million from four promoters of an alleged cryptocurrency pyramid scheme that targeted Haitian and other immigrant communities, leaving thousands of investors with devastating financial losses.

According to an October 22 announcement from the New York Attorney General’s Office, more than 11,000 New Yorkers invested in the schemes operated through NovaTechFx and AWS Mining, losing tens of millions of dollars.