New York seeks $1.37B from NovaTech founders over crypto fraud
- —The suit seeks $1.13 billion in investor funds plus $232.5 million in interest
- —Only about $26 million of the $1.16 billion deposited reached B2Broker
- —More than 11,000 victims were in New York alone
- —Four recruiters will pay nearly $6 million and are barred from US securities and crypto work
Why it matters: The case sets a benchmark for accountability in crypto Ponzi schemes and could speed restitution for defrauded investors.
Source: Newsbit