# Nevada jury convicts crypto-mining promoter in $24 million fraud case

_Published Wednesday, August 26, 2026 at 1:06 PM EDT · Products · Latest · Tier 2 — Notable_

![Bitcoin theft — Primary](https://cdn.mos.cms.futurecdn.net/hwbXnfQReY3k6GhBpKYMwP-2000-80.jpg)

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

- [Tom's Hardware](https://www.tomshardware.com/tech-industry/cryptocurrency/crypto-bro-faces-280-years-in-prison-for-defrauding-investors-with-promises-of-an-ai-supercomputer-for-mining-jury-convicts-businessman-of-running-usd24-million-ponzi-scheme-claimed-up-to-30-percent-apr-and-a-100-percent-money-back-guarantee)

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Canonical: https://techandbusiness.org/newswire/m_kFZyTeftdXuB0e9YiaRE
Published: 2026-08-26T17:06:53.657Z
Story chronology: 2026-08-26T13:29:52.000Z
Retrieved: 2026-10-11T01:07:25.855Z
Publisher: Tech & Business (techandbusiness.org)