New York AG seeks $1.37B from NovaTech founders over Ponzi scheme

• New York AG seeks $1.37 billion from NovaTech founders over allegations of a Ponzi scheme.
• The founders of NovaTech are accused of defrauding investors out of $1.16 billion.
• The New York AG's request follows an August 2025 default judgment against the founders.
• The AG also announced nearly $6 million in settlements with four promoters involved in the scheme.
• The founders of NovaTech are believed to have fled the US.