Brent Kovar / Profit Connect
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anchored·36f7SH…PXj7Summary
Brent C. Kovar, a Las Vegas businessman, was convicted by a federal jury in August 2026 on 11 counts of wire fraud, two counts of mail fraud and two counts of money laundering for operating Profit Connect, an alleged $24 million cryptocurrency Ponzi scheme that claimed to use an 'AI supercomputer' to mine crypto and guaranteed investors 15-30% annual returns. Kovar and his mother, Joy Kovar, previously settled a related SEC civil fraud case over the same company in 2021, and Brent Kovar had already been permanently barred from serving as a public-company officer or director following a 2009-2010 SEC pump-and-dump case. Sentencing is scheduled for November 30, 2026, with a combined statutory maximum of 280 years.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(9 events)
13 March 2009
SEC files civil fraud complaint against Sky Way Global LLC and principals including Brent C. Kovar over an alleged pump-and-dump stock scheme.
SEC Complaint, U.S. District Court for the Middle District of Florida2010
SEC obtains a permanent injunction, penny-stock bar, and officer-and-director bar against Brent Kovar in the Sky Way Global case.
SEC Litigation Release No. 209602017
Brent Kovar launches Profit Connect in Las Vegas, marketed as an AI-driven cryptocurrency mining operation.
FBI Las Vegas Field Office8 July 2021
SEC files a civil fraud complaint against Profit Connect Wealth Services, Inc., Joy I. Kovar, and Brent C. Kovar in the U.S. District Court for the District of Nevada.
SEC Litigation Release No. 2514414 July 2021
Federal court grants a temporary restraining order and asset freeze against Profit Connect and the Kovars, halting the company's operations.
SEC Litigation Release No. 25144December 2021
Brent and Joy Kovar settle the SEC's civil case without admitting or denying the allegations; stipulated consent judgments are filed.
BehindMLMFebruary 2025
Brent Kovar is criminally indicted on wire fraud, mail fraud, and money laundering charges related to Profit Connect.
Fox5 Las VegasAugust 2026
Federal jury convicts Brent Kovar on 11 counts of wire fraud, two counts of mail fraud, and two counts of money laundering after a nine-day trial.
FBI Las Vegas Field Office / BehindMLM30 November 2026
Sentencing hearing scheduled for Brent Kovar; he faces a statutory maximum of 280 years in prison.
CoinDeskDecision Log
- hash: 92xgTjkLT546AnAvhatRNwn26H4GrNkRW68bUDk29fE5
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 9/30/2026, 5:14:31 PM
last updated: 9/30/2026, 5:14:47 PM
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