Brent Kovar guilty of $24M crypto fraud; sentencing Nov 30.

A U.S. federal jury has found businessman Brent Kovar guilty of fraud through his company Profit Connect. The scheme affected at least 400 investors, resulting in total damages of $24 million.

Kovar promised annual returns of 15-30% and claimed the firm used AI and a supercomputer for cryptocurrency mining. Sentencing is scheduled for November 30, with a maximum penalty of up to 280 years in prison.