# Profit Connect owner convicted in $24M AI crypto fraud scheme

https://mins.news/en/item/32925

- CryptoSlate, 2026-08-26 10:30 UTC
- Economy
- Original: https://cryptoslate.com/profit-connect-owner-convicted-over-24m-ai-crypto-fraud-scheme/

> A federal jury convicted Profit Connect owner Brent C. Kovar on 15 fraud and money-laundering counts. Prosecutors said he raised $24 million from at least 400 investors by falsely claiming an AI-powered crypto business generated profits and guaranteed returns. Sentencing is scheduled for Nov. 30.

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