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Las Vegas Man Convicted in $24M Crypto Fraud Over 'AI Supercomputer' Pitch

Guavy AI Editorial Team
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A Las Vegas businessman, Brent Kovar, was convicted of wire fraud and money laundering after swindling over $24 million from around 400 investors.

He promised unusually high returns of 15-30% per year with a full money-back guarantee, using the pitch of an 'AI supercomputer' to power his cryptocurrency mining business, Profit Connect.

Kovar used investor funds for personal gain, including buying gifts for employees and a house for himself, instead of generating profits as claimed.

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