NovaTech's traders lost approximately $18.2 million of the $26 million sent for trading, using incoming deposits from new investors to pay out weekly returns and recruitment bonuses

From the articleNew York AG seeks $1.3 billion from NovaTech founders after default judgmentAlso in New York seeks over $1.3 billion from NovaTech founders after couple fled the US, New York wants $1.37 billion from NovaTech founders who fled in 2022 - Cryptopolitan, New York Asks Court for a $1.37 Billion Judgment Against NovaTech's Founders - Unchained, NY Seeks $1.37 Billion Judgment Against NovaTech Operators, Crypto Scammers Who Used Prayer Groups to Lure Victims Must Pay $1.3 Billion, Says New York - Decrypt