Las Vegas man accused of running $24M crypto Ponzi scheme

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Feds allege Las Vegas man bilked investors of $24M in ponzi scheme

A Las Vegas businessowner made his first appearance in court in what investigators called a cryptocurrency fraud scheme that bilked hundreds of people out of close to $24 million.

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Las Vegas man accused of running $24M crypto Ponzi scheme

LAS VEGAS (KLAS) -- A man faces federal charges for allegedly running a cryptocurrency Ponzi scheme where he made about $24 million, prosecutors said Friday. A grand jury indicted Brent Kovar, 58, on charges including wire fraud, mail fraud and money laundering connected to Profit Connect, a company prosecutors said “used artificial intelligence software on a supercomputer to mine cryptocurrency and verify cryptocurrency transactions.” Kovar pro…

Tron Weekly Journal

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Las Vegas Man Faces 330 Years In Prison For Alleged $24M Crypto Ponzi Scheme

Brent Kovar dеfrаudеd ovеr 400 invеstors of $24 million using а fаkе AI crypto schеmе. Hе fаcеs 12 wirе frаud counts, risking 330 yеаrs in prison аnd $4.5 million finеs. Crypto scаms surgеd in 2024, rеаching $9.9B–$12.4B, highlighting growing frаud concеrns.  A Las Vegas businеssmаn is fаcing sеrious lеgаl troublе аftеr аuthoritiеs аccusеd him of dеfrаuding ovеr 400 invеstors out of $24 million through а crypto mining scаm. Brent Kovar, 58, аllе…

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The Nevada prosecutor's office has charged Las Vegas resident Brent Kovar, who created the crypto scheme Profit Connect, with fraud and defrauding more than 400 investors, who lost about $24 million on their investments.

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Accusations Against Las Vegas Man for Operating $24 Million Crypto-Linked Ponzi Scheme

A resident of Las Vegas is facing charges related to his involvement in a cryptocurrency-linked artificial intelligence Ponzi scheme. The individual allegedly defrauded investors by promising high returns through an AI trading system that did not exist. Authorities have accused him of running a Ponzi scheme where funds from new investors were used to pay returns to earlier investors. The man used social media and online forums to attract victims…

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Las Vegas man accused of running $24M crypto-linked Ponzi scheme

According to a Feb. 14 statement, Brent Kovar was accused of deceiving investors by falsely claiming his crypto investment firm offered fixed annual returns of 15% to 30% and a 100% money-back guarantee.