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…]
The Profit Connect Receiver has booted defendants Brent and Joy Kovar from their Las Vegas home.
On August 12th attorneys for Profit Connect defendants Brent Carson Kovar and Joy Kovar filed a motion to withdraw. The cited reason for the withdrawal was non-payment, as well as issues securing out-of-state counsel familiar with SEC proceedings.
Defendants Brent Carson Kovar and Joy Irene Kovar stand accused of running Profit Connect, which the SEC alleges was a $12 million dollar Ponzi scheme. Recent filings suggest the Kovars don’t intend to put up a fight.
Profit Connect has been shut down by the SEC. The regulator alleges mother and son founders, Brent Carson Kovar and Joy Irene Kovar (86), were behind a $12 million dollar Ponzi scheme.
Profit Connect provides no information on its website about who owns or runs the company. On its website, Profit Connect markets itself as ‘a leading Supercomputer – Artificial Intelligence Software company with headquarters located in Las Vegas, Nevada.’ Further research reveals Profit Connect marketing videos narrated by Eddie Kona. According to Kona, he’s a co-founder [Continue reading…]
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