GoKawiilLas Vegas man Brent Kovar charged in $24 million crypto Ponzi scheme, faces 280 years
Federal prosecutors in Nevada allege Brent Kovar ran a Ponzi scheme that fraudulently raised $24 million from roughly 400 investors by claiming he used AI software on a supercomputer to mine and verify cryptocurrency. He promised annual returns of 15 to 30 percent with a full money-back guarantee, but investigators say he paid earlier investors with money from new ones and could not honor his guarantees. Kovar now faces 11 counts of wire fraud, two counts of mail fraud, and two counts of money laundering, carrying a maximum combined sentence of 280 years.