According to online reports, according to the official website of the U.S. Department of Justice, Brent C., founder of Profit Connect. Kovar is accused of using artificial intelligence mining as a cover to commit a cryptocurrency investment fraud, illegally absorbing $24 million in funds, involving at least 400 investors. Prosecutors alleged that Kovar promised a fixed annual return of 15% to 30%, and falsely claimed that the investment was covered by FDIC insurance. The actual funds are used for non-investment purposes such as paying old investors, purchasing houses, and giving gifts. Kovar faces 12 counts of wire transfer fraud, 3 counts of mail fraud, and 3 counts of money laundering and may be sentenced to a maximum of 330 years in prison. The case will be heard on April 8, 2025. The FBI, FDIC OIG, and IRS-CI jointly investigated and the case was prosecuted by Assistant U.S. Attorney Daniel Schiess.