Thursday April 24, 2025

Feds Say AI Crypto Firm Was a Scam, Owner Faces Trial

Feds Say AI Crypto Firm Was a Scam, Owner Faces Trial

by Bitcoin.com February 17, 2025 1 min read

(Originally posted on : Bitcoin News )

A Las Vegas businessman, Brent C. Kovar, 58, has been indicted for allegedly orchestrating a $24 million cryptocurrency Ponzi scheme through his company, Profit Connect. Prosecutors claim Kovar falsely promoted Profit Connect as an artificial intelligence-powered cryptocurrency mining firm that guaranteed fixed investment returns of 15%-30% APR and falsely implied FDIC backing. From 2017 to […]

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