Ramona Uriarte, a former accountant for Profit Connect, has agreed to a provisional settlement with the company’s Receiver, resolving claims related to a $387,786 loan. The Receiver had sought repayment of the funds, which were advanced to Uriarte by Profit Connect founder Brent Kovar to purchase a Nevada property.

The Receiver’s office identified three key employees responsible for Profit Connect’s financial and personnel operations. These included SW, a former pharmacy technician who became accounting manager and was described as Kovar’s long-term girlfriend; RU, also a former pharmacy technician, who served as an accountant; and JM, who had no prior work experience and was hired as a junior accountant and receptionist.

Investigators found that this accounting team lacked basic knowledge of business accounting practices. Their compensation also appeared excessive given their qualifications. The Receiver noted that these employees received substantial non-cash gifts and unquestioningly followed Kovar’s directives, pointing to unusual and inappropriate relationships within the company’s financial department.

Ramona Uriarte is the first of these employees to reach an agreement with the Receiver. The provisional settlement, filed on March 16th, outlines a repayment plan for the $387,786.94 Kovar loaned her for the Nevada house. Although no formal written agreement existed for this loan, the parties reportedly intended for Uriarte to repay the amount.

Uriarte stated she does not currently possess the full sum. To facilitate repayment, she plans to refinance the property with a mortgage. However, standard underwriting rules require her to reside in the home for at least one year before she can qualify for such a loan, an anniversary that would occur in April 2022.

Under the terms of the provisional settlement, Uriarte will pay $2,000 per month for four months. This payment acknowledges her ongoing use of Profit Connect funds. The agreement also stipulates that Uriarte will surrender the Nevada property to the Receivership if her refinancing application is denied.

The provisional settlement received court approval on May 5th.