New York Attorney General Letitia James has filed a lawsuit against NovaTechFx and AWS Mining, alleging that they defrauded over $1 billion from hundreds of thousands of investors, including 11,000 New Yorkers. The companies targeted minority communities, particularly Haitian New Yorkers, with false promises of high returns on investments. Only a small fraction of the funds was used for trading, while the rest was used for operations and to pay earlier investors. The lawsuit seeks to ban the companies and their founders from doing business in New York and to secure disgorgement and damages.