RegulationBrent KovarTue, Aug 25, 2026, 11:46 AMNegative

Las Vegas Businessman Convicted in $24 Million Crypto Ponzi Scheme

Brent Kovar, a Las Vegas businessman, has been convicted of orchestrating a $24 million Ponzi scheme that defrauded at least 400 investors. He misled investors by claiming a supercomputer was mining cryptocurrency for them and that their investments were insured by the FDIC. Kovar faces a potential sentence of up to 280 years in prison for his crimes.

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CoinDesk19 hours ago

Las Vegas businessman convicted in $24 million 'AI supercomputer' crypto Ponzi scheme

Brent Kovar has been found guilty of running a crypto Ponzi scheme, defrauding at least 400 investors out of $24 million.

cryptoNegativeRead full article
Decrypt20 hours ago

Jury Convicts Las Vegas Man of $24M AI Crypto Mining Ponzi Scheme

Brent Kovar told at least 400 investors a supercomputer was mining crypto for them, and that their money was insured by the FDIC.

cryptoNegativeRead full article
Cointelegrapha day ago

Business owner faces up to 280 years over $24M crypto Ponzi scheme

A federal jury convicted Brent Kovar of wire fraud, mail fraud and money laundering after he took $24 million from at least 400 investors.

cryptoNegativeRead full article
The Blocka day ago

Las Vegas businessman faces 280 years in prison after $24 million crypto fraud conviction

A federal jury convicted Las Vegas businessman Brent Kovar in a $24 million cryptocurrency scheme involving at least 400 investors.

cryptoNegativeRead full article
crypto.newsa day ago

Las Vegas businessman faces 280 years over $24 million crypto Ponzi scheme

A federal jury has convicted Las Vegas businessman Brent Kovar of fraud and money laundering after prosecutors said his Profit Connect operation collected $24 million from at least 400 investors through false claims about cryptocurrency mining, investment returns and company…

cryptoNegativeRead full article
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