Jury Convicts Las Vegas Man of $24M AI Crypto Mining Ponzi Scheme
In brief A federal jury has convicted Brent Kovar of defrauding at least 400 investors of $24 million through his company Profit Connect. He promised fixed returns of 15% to 30% a year, a full money-back guarantee, and reserves of hundreds of millions of dollars in crypto.
Why It Matters
This story touches on crypto, mining, jury — topics readers are actively tracking. Review and add editorial context before publishing.
Key Facts
- Fact 1: In brief A federal jury has convicted Brent Kovar of defrauding at least 400 investors of $24 million through his company Profit Connect.
- Fact 2: He promised fixed returns of 15% to 30% a year, a full money-back guarantee, and reserves of hundreds of millions of dollars in crypto.
- Fact 3: The SEC shut the company down in 2021, when it put the losses at half that figure.
- Fact 4: A federal jury in Las Vegas has convicted a business owner of running a $24 million cryptocurrency Ponzi scheme that took money from at least 400 investors, the Justice Department said on Monday.
In brief A federal jury has convicted Brent Kovar of defrauding at least 400 investors of $24 million through his company Profit Connect. He promised fixed returns of 15% to 30% a year, a full money-back guarantee, and reserves of hundreds of millions of dollars in crypto.
The SEC shut the company down in 2021, when it put the losses at half that figure. A federal jury in Las Vegas has convicted a business owner of running a $24 million cryptocurrency Ponzi scheme that took money from at least 400 investors, the Justice Department said on Monday. Brent C.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Decrypt
Related Stories
U.S. state banking associations plan to launch their own nationwide blockchain network
Cosmos Labs Urges EVM Chains To Halt As Shared Bug Drains Three Networks
Elon Musk’s SpaceX Plans $100 Billion Louisiana Spaceport
