According to the US Attorney's Office of Nevada, Las Vegas businessperson Brent C. Kovar first appeared in court on February 14 on suspicion of cryptocurrency fraud. Prosecutors accused him of fraudulently claiming to use artificial intelligence to mine and verify cryptocurrency transactions through his company Profit Connect between the end of 2017 and July 2021, promising an annualized yield of 15% -30% and providing a full refund guarantee. A total of about $24 million was defrauded from more than 400 investors. Kovar faces 12 counts of wire fraud, three counts of mail fraud and three counts of money laundering, punishable by up to 330 years in prison and a $4.50 million fine.