Jury Convicts Profit Connect’s Brent Kovar Over $24M ‘AI Crypto’ Scheme
Brent Kovar, the founder of Profit Connect, has been convicted on 15 counts of fraud and money laundering for a scheme that defrauded at least 400 investors out of $24 million. Prosecutors argued that Kovar falsely pitched an AI-powered cryptocurrency operation, using investor funds to cover operating costs, purchase a house for himself, and pay off earlier investors instead of generating profits.
- Entities
- Topic: Money Laundering
- Topic: Artificial Intelligence
- Person: Brent Kovar
- Company: Profit Connect
- Company: Justice Department
- Topic: Cryptocurrency
- Company: SEC
- Topic: Fraud
This article was reported and published by egamers.io. feed.gg links to it as part of a story cluster — full text, images and rights remain with the publisher.