{
  "id": 3522410,
  "title": "Crypto bro faces 280 years in prison for defrauding investors with promises of an 'AI supercomputer' for mining — jury convicts businessman of running $24-million Ponzi scheme, claimed up to 30% APR and a 100% money-back guarantee",
  "url": "https://urgent.news/2026/08/26/crypto-bro-faces-280-years-in-prison-for-defrauding-investors-with",
  "topic": "ai",
  "section": "AI",
  "published": "2026-08-26T13:29:52.000Z",
  "source": {
    "name": "Tom's Hardware",
    "slug": "tom-s-hardware",
    "url": "https://www.tomshardware.com/tech-industry/cryptocurrency/crypto-bro-faces-280-years-in-prison-for-defrauding-investors-with-promises-of-an-ai-supercomputer-for-mining-jury-convicts-businessman-of-running-usd24-million-ponzi-scheme-claimed-up-to-30-percent-apr-and-a-100-percent-money-back-guarantee"
  },
  "original_language": "en",
  "account": "A Las Vegas businessman, Brent Kovar, has been convicted of running a $24-million Ponzi scheme through his company, Profit Connect. According to prosecutors, Kovar deceived over 400 investors by promising lucrative returns on their investments. He claimed the operation utilized an artificial intelligence supercomputer and a cryptocurrency reserve worth hundreds of millions of dollars. However, the reality was far different - Profit Connect had no funds of its own, and the \"profits\" made by earlier investors were merely generated by attracting new investors. Kovar's promises of a 15% to 30% annual return, along with a 100% money-back guarantee, lured unsuspecting investors into his scheme from 2017 to 2021. The judge also found him guilty of wire fraud, mail fraud, and money laundering. If convicted, Kovar faces up to 280 years in prison.",
  "summary": "A man claiming to give massive returns to investors has been found guilty of wire fraud, mail fraud, and money laundering by a Nevada court. Brent Kovar now faces up to 280 years behind bars for his crimes, although sentencing will still be held on November 30.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}