Las Vegas businessman convicted in $24M crypto Ponzi scheme, faces up to 280 years in prison

According to The Block, Las Vegas businessman Brent Kovar has been convicted by a jury for a $24 million crypto Ponzi scheme and faces up to 280 years in prison. The U.S. Department of Justice stated that Kovar used investor funds to operate Profit Connect and paid old investors with new funds under the guise of mining returns.