Profit Connect Receiver recovers $9.1M, warns more clawbacks
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 @ BehindMLM
Brent and Joy Kovar settle Profit Connect securities fraud
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.
William Roshak served $500,000+ Profit Connect clawback suit
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…]
Profit Connect mined crypto for a week before SEC lawsuit
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…]
Profit Connect Receiver boots Brent and Joy Kovar from home
The Profit Connect Receiver has booted defendants Brent and Joy Kovar from their Las Vegas home.
Profit Connect defense attorneys bail, Receiver updates
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.
Kovars not putting up a fight in SEC’s Profit Connect case
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 shut down by SEC, $12 million Ponzi scheme
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 Review: Wealth Builder securities fraud
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…]
