Las Vegas businessman Brent Kovar has been convicted on 15 federal counts for defrauding more than 400 investors through his company, Profit Connect.
Kovar falsely claimed the company used AI-powered supercomputers to mine crypto and generate guaranteed annual returns of 15%–30%. Prosecutors said the technology and profits never existed, with investor funds instead used to repay earlier investors and fund personal expenses.
Kovar faces up to 280 years in prison and is scheduled to be sentenced on November 30, 2026.
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