Products
Nevada jury convicts crypto-mining promoter in $24 million fraud case
Image: Primary A Nevada court found Las Vegas businessman Brent Kovar guilty of 11 wire-fraud counts, two mail-fraud counts and two money-laundering counts over a scheme that defrauded more than $24 million from hundreds of investors.
According to the U.S. Attorney's Office, Kovar presented Profit Connect as a cryptocurrency-mining operation using an AI supercomputer and promised returns of 15% to 30% annually with a money-back guarantee. The source says the purported profits came from newer investors and the business had no cryptocurrency holdings.
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from Tom's Hardware and reviewed by the T&B editorial agent team.
Back to Newswire