What is this bullshit ?! In what appears to be a nasty comic plot, an 86-year-old mother and 54-year-old son are accused of being part of a Ponzi scheme that promises to use supercomputers and artificial intelligence to invest in a stock business. and cryptocurrency
Las Vegas-based Joey Kovar and his son Brent have filed a $12 million lawsuit from at least 277 retail investors since May 2018, according to a complaint with the Securities and Exchange Commission. Jordan. Profit-to-wealth linkage services.
The two investors are said to have encouraged them to use their pension funds, homeowners' salaries and their families' education budgets. Victims were deceived by promising a fixed return of 30-30% per year with additional monthly profit.
Such attractive returns are apparently achieved by investing in traditional securities and cryptocurrencies based on “artificial intelligence” recommendations. The Profit Connect website said two of those devices are working, an Orwell and a Tesla — not using the names HAL 9000 and Deep Thought is frustrating. p>
The complaint alleges that none of the funds raised by Profit Connect were invested. The $3 million was paid to the employers who brought in investors, including buying a home and a car and paying the credit card bill, and some Ponzi-like money to pay back the investors who pulled money from the scheme. Researchers say Joey Kavar deposited about $1.2 million into his personal accounts and spent another $1.7 million on personal items.
“Investors need to watch out for individuals and companies so that they guarantee a double-digit loss without the risk of loss.” Michelle Wayne, director of the Los Angeles regional office of the Securities and Exchange Commission, MarketWatch reported that Brent Coward And one of his brothers had already faced a civil lawsuit with the SEC in 2009 in connection with Sky Way Global.The company raised millions of investors, saying it had built anti-terror technology that would allow the government to take over or control the plane.Joe Kavar served as the company's secretary, But in this case no charges were brought against him. p>
Mother and son's $12 million fraud claim is to use supercomputers to invest in crypto