Brent Kovar is accused of creating a cryptocurrency pyramid worth $24 million, promising high returns and a 100 percent return, while using investors' funds for personal purposes.

Brent Kovar, a resident of Las Vegas, is accused of organizing a cryptocurrency pyramid scheme worth $24 million. From 2017 to 2021, he promised investors returns from 15 percent to 30 percent annually and a 100 percent return of funds through the company Profit Connect, which allegedly was engaged in cryptocurrency mining using AI. Instead, he used the funds for personal expenses. Kovar is charged with fraud and money laundering. If convicted, he faces up to 330 years in prison and a fine of up to $4.5 million. Investors are advised to be cautious when investing in cryptocurrency projects.