In 2010, the SEC obtained a permanent injunction, a penny stock bar, and an officer and director bar against B. Personally I hadn’t heard of Brent Kovar (right) until today, and there’s a very good reason for that. I’m not sure what’s going on there (anyone?). Kona isn’t mentioned in the SEC’s lawsuit. He was also promoting Profit Connect on social media, right up until mid May: Kona is still citing himself as “founder/owner” of Profit Connect: I initially thought Brent Kovar was an alias for Kona, but they are in fact two different people. One thing I’m confused about however is Eddie Kona citing himself as Profit Connect’s founder. This is in line with BehindMLM’s Profit Connect review, published December 2020.
Instead, over 90% of Profit Connect’s funds came from investors. The majority of funds received by Profit Connect did not come from any investments or profits generated by a “supercomputer.” Profit Connect claims that its supercomputer consistently generates enormous returns, which in turn allows Profit Connect to guarantee investors fixed returns of 20%-30% per year with monthly compounding interest. The regulator alleges mother and son founders, Brent Carson Kovar and Joy Irene Kovar (86), were behind a $12 million dollar Ponzi scheme.Īs alleged by the SEC, from mid 2018 the Kovars “raised at least $12 million from over 277 investors through their company, Profit Connect”.ĭefendants promised investors that their money would be invested in securities, bitcoin and other cryptocurrencies based on recommendations made by an “Artificial intelligence supercomputer.” Profit Connect has been shut down by the SEC.
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