A Las Vegas businessman, Brent C. Kovar, 58, has been indicted for allegedly orchestrating a $24 million cryptocurrency Ponzi scheme by means of his firm, Revenue Join. Prosecutors declare Kovar falsely promoted Revenue Join as a synthetic intelligence-powered cryptocurrency mining agency that assured fastened funding returns of 15%-30% APR and falsely implied FDIC backing. From 2017 to 2021, Kovar allegedly misused investor funds to cowl enterprise bills, buy private belongings, and repay earlier traders beneath false pretenses. He allegedly used a web site, YouTube movies, and PowerPoint shows to lure not less than 400 traders. Charged with 12 counts of wire fraud, three counts of mail fraud, and three counts of cash laundering, Kovar faces as much as 330 years in jail and $4.5 million in fines if convicted. His trial is ready for April 8, 2025. The FBI, FDIC OIG, and IRS-CI investigated the case, with Assistant U.S. Legal professional Daniel Schiess main the prosecution.
Feds Say AI Crypto Agency Was a Rip-off, Proprietor Faces Trial
