In Las Vegas, a federal jury convicted Brent Kovar of orchestrating a Ponzi scheme through his company Profit Connect, blending artificial intelligence and cryptocurrency. Between 2017 and 2021, at least 400 investors handed over 24 million dollars in exchange for guaranteed fixed returns of up to 30% per year. The scheme claimed profits came from a supercomputer powered by AI trading stocks and crypto, though no legitimate activity existed to fund those returns. Kovar was found guilty of 11 counts of electronic fraud, two counts of mail fraud, and two counts of money laundering; sentencing is scheduled for November 30, 2026, with a theoretical maximum of 280 years in prison.
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