The New York Attorney General is demanding $1.37 billion from the founders of NovaTech in connection with a Ponzi scheme, according to CoinTelegraph. This legal action follows a default judgment issued in August 2025.
In addition to targeting the founders, nearly $6 million has been secured in settlements with four promoters involved in the case. These measures aim to hold those responsible accountable for their roles in the fraudulent operation.
For Japanese investors watching global markets, this underscores the increasing scrutiny on crypto-related schemes and the importance of due diligence in emerging digital asset ventures.