SEC charges Novatech with $650 million crypto fraud scheme

The US Securities and Exchange Commission (SEC) has accused the masterminds behind Novatech of running a $650 million crypto fraud scheme. Novatech allegedly operated as a multi-level marketing and crypto-asset investment program where most of the investors’ funds were diverted to pay existing investors and promoters. SEC charges Novatech Ltd. with $650 million crypto fraud case (…)