Profit Connect @ BehindMLM

Citibank has settled with the Profit Connect Receiver for $65,000.

Allianz Life Insurance has entered into a settlement with the Profit Connect Receiver. As per the terms of the settlement, Allianz will pay $125,250 to the Receivership, from which $2500 to four Profit Connect investors.

Following notice of a provisional settlement filed last November, Troy Sutton’s Profit Connect settlement has been approved.

Profit Connect victims will soon be able to file claims with the court-appointed Receivership. On June 13th, the Profit Connect Receiver’s proposed claims submission process received court approval.

William Roshak has settled his Profit Connect fraud for $470,000. The settlement was reached following $500,000+ clawback lawsuit, filed against Roshak late last year.

Brent Kovar’s penchant for lavishing gifts on women he hired, was revealed by the Profit Connect Receiver last November. The Temporary Receiver identified three Profit Connect employees with the responsibilities of administering the financial and personnel operations of Profit Connect: SW, a former pharmacy technician hired as the accounting manager and, as she has stated, [Continue reading…]

The Profit Connect Receiver has recovered $9.1 million. The announcement was made as part of the Receiver’s Second Status Report, filed February 7th.

Profit Connect owners Brent Carson Covar and Joy I. Covar have settled with the SEC. The SEC shut down Profit Connect in July, alleging the Kovars ran a $12 million dollar Ponzi scheme.

The Profit Connect Receiver identifies William Roshak, a Nevada resident, as one of the Ponzi scheme’s employees. Roshak was also a top Profit Connect affiliate promoter. Of the $3 million that Profit Connect paid out to its affiliates, Roshak received over $500,000. On November 4th the Receiver filed a clawback lawsuit against Roshak, his former [Continue reading…]

As part of its Ponzi scheme ruse, Profit Connect claimed to “proprietary Ai and Machine Learning Algorithms”. None of that existed. Profit Connect also represented to investors that it mined cryptocurrency. As part of those efforts, Profit Connect told investors it had “been mining for years and were very successful”. Turns out Profit Connect only [Continue reading…]