Profit Connect Owner Convicted in $24 Million AI Crypto Fraud Case

A federal jury found Brent Kovar, the owner of Profit Connect, guilty on 15 counts in a case involving an alleged $24 million artificial-intelligence cryptocurrency fraud scheme. Prosecutors said Kovar attracted at least 400 investors by making false guarantees and claiming the existence of reserves that did not exist. The conviction was reported by CryptoSlate on Aug. 26, 2026. The case highlights allegations surrounding Profit Connect’s promotion of an AI-focused crypto investment operation, although the supplied information does not detail the specific counts or the penalties Kovar may face. No further information was provided on sentencing, the affected assets, or the status of investor funds.