New York Attorney General Letitia James is suing two companies and their promoters over alleged crypto pyramid schemes, defrauding investors of Haitian descent of more than $1 billion.

In a complaint filed on Thursday, the NYAG alleged defendants Cynthia Petion and her husband, Eddy Petion, among others, defrauded thousands of investors globally, including at least 11,000 New Yorkers, by promoting the schemes.

The first purported crypto mining investment scheme, AWS Mining, with promises of a 200% guaranteed return, collapsed in April 2019. That was followed by a second larger fraud, NovaTech, which claimed to be a crypto and foreign exchange trading platform. Investors deposited over $1 billion worth of cryptocurrency with NovaTech from August 2019 through April 2023, though only $26 …