SEC Shuts Down Fraudulent Mother-Son Offering Involving Purported Supercomputer
As alleged, Profit Connect claims that its supercomputer consistently generates enormous returns, which in turn allows Profit Connect to guarantee investors fixed returns of 20-30 percent per year with monthly compounding interest.
- As alleged, Profit Connect claims that its supercomputer consistently generates enormous returns, which in turn allows Profit Connect to guarantee investors fixed returns of 20-30 percent per year with monthly compounding interest.
- According to the complaint, however, over 90 percent of Profit Connects funds came from investors.
- On July 14, the court granted the SEC emergency relief against the Kovars and Profit Connect, including a temporary restraining order and an order freezing their assets.
- The SEC appreciates the assistance of the Utah Division of Securities.