Las Vegas Businessman Faces Up to 280 Years for Cryptocurrency Investment Scheme

A Las Vegas businessman faces up to 280 years in prison after being convicted of defrauding over 400 investors out of $24 million through a cryptocurrency investment scheme.

Brent C. Kovar, owner of Profit Connect, promised investors returns ranging from 15% to 30%, along with a 100% money-back guarantee. However, prosecutors alleged that Kovar knew these claims were false and used investor funds for personal expenses, including gifts for employees and a house purchase.

The businessman was found guilty on 11 counts of wire fraud, two counts of mail fraud, and two counts of money laundering after a nine-day trial. He is scheduled to be sentenced on November 30, 2026.