A Vegas businessman convicted of a $24 million encrypted Ponzi scheme facing 280 years of imprisonment

On 25 August, the Block reported that Brent Kovar, a Las Vegas businessman, had been convicted by a jury for his $24 million involvement in the encrypted Ponzi scheme and faced up to 280 years of imprisonment. According to the United States Department of Justice, Kovar used investor funds for the operation of the Profit Complex and used new funds to repay the old investors in the name of mining proceeds。