Las Vegas Businessman Convicted in $24M AI Crypto Ponzi Scheme
Brent Kovar stole $24 million from over 400 investors using a fake AI supercomputer pitch.
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
Key takeaways
- Brent Kovar was found guilty of running a $24 million crypto Ponzi scheme.
- The scam defrauded at least 400 investors using fake AI supercomputer claims.
- Fraudsters are increasingly using AI hype to mislead crypto buyers.
Brent Kovar is going down. A jury convicted the Las Vegas businessman for running a $24 million crypto Ponzi scheme that burned at least 400 investors.
His hook? Sky-high returns powered by an "AI supercomputer." Total fiction. Instead of building advanced tech, Kovar ran a standard fraud—using money from fresh marks to pay off earlier ones while pocketing the rest.
Old Tactics, New Hype
Dangling futuristic tech makes dodging hard questions easy. Investors thought they were funding cutting-edge hardware. They weren't. It was just a classic trap wrapped in modern buzzwords.
Why it matters
Scammers adapt fast. The second the market gets obsessed with artificial intelligence, fraudsters rebrand their pitch overnight. Here's the rule: if a crypto investment promises huge payouts backed by mysterious proprietary tech, run. Don't let hype replace basic due diligence.
Source: CoinDesk
Top Crypto Casinos Right Now
🇮🇳 Showing sites that accept players from India Change country
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
More info Less info
Why we chose it: A US-facing book that pays a premium for crypto deposits: 125% against 100% for cash, with fee-free deposits across five coins.
- KYC
- Required
Restricted countries: Australia, Afghanistan, Bulgaria, Central African Republic, Congo - Brazzaville, Eritrea, France, Guinea-Bissau and 16 more.
More info Less info
Why we chose it: BetNow's casino floor with the biggest match bonus we list. The 200% headline deserves a careful read of the code terms behind it.
- KYC
- Required
Restricted countries: Australia, Afghanistan, Bulgaria, Central African Republic, Congo - Brazzaville, Eritrea, France, Guinea-Bissau and 16 more.
More info Less info
Why we chose it: A US-oriented casino that turns away only New Jersey. The cashier takes crypto, but the site publishes fewer specifics than any operator we list.
- KYC
- Required
Restricted countries: New Jersey (US).
Alex Rivera
Alex covers crypto markets and trading, testing every platform hands-on before writing about it.
