McAfee founder John McAfee charged with crypto asset fraud

by NullSession

On March 5, 2021, the US Department of Justice charged John McAfee , the founder of McAfee, the world's largest computer security company, with fraud and money laundering on crypto assets.

John David McAfee And Executive Adviser Of His Cryptocurrency Team Indicted In Manhattan Federal Court For Fraud And Money Laundering Conspiracy Crimes | USAO-SDNY | Department of Justice
https://www.justice.gov/usao-sdny/pr/john-david-mcafee-and-executive-adviser-his-cryptocurrency-team-indicted-manhattan

Feds indict John McAfee for cryptocurrency pump-and-dump fraud | Ars Technica
https://arstechnica.com/tech-policy/2021/03/feds-indict-john-mcafee-for-cryptocurrency-pump-and-dump-fraud/

The U.S. Department of Justice has charged McAfee and Jimmy Gale Watson, who was an executive advisor to his 'crypto asset team.' Both suspects are said to have made multiple 'pump and dump ' of promoting certain cryptocurrency assets on McAfee's official Twitter account, which has hundreds of thousands of followers, raising the value and then selling it. ..

Neither the purchase nor the promotion of crypto assets is a crime in itself. The judiciary explained that the indictment was caused by McAfee's promotion of crypto assets, pretending to be 'no financial interest.' For example, McAfee explained about the crypto asset Electroneum on December 22, 2017, 'I do not own Electroneum,' while 'I received multiple direct mails calling Electroneum the Holy Cup of crypto assets.' The present value of Electroneum is really too cheap, 'he advertised on his official Twitter account, but as of December 20, two days before this promotion, he had purchased more than $ 100,000 of Electroneum. It was said that.

ELECTRONEUM --The first of my daily coin reports: pic.twitter.com/sKf9WNirot

— John McAfee (@officialmcafee) December 21, 2017

Immediately after this promotion, the value of Electroneum rose by 40% and McAfee sold out at a high price, but since then the value of Electroneum has fallen by about 90% from before the promotion.

On another allegation, McAfee was paid for advertising the initial coin offering to raise fiat and crypto assets from the public, but 'this is not an act of advertising and is not paid.' Explained. In addition, the tax on this reward was evaded.

McAfee founder John McAfee arrested on suspicion of tax evasion-GIGAZINE

As of October 2020, no indictment was filed for the promotion of the initial coin offering, and only the tax evasion charges were prosecuted, but this time the prosecution was also filed for the promotion of the initial coin offering. is.

McCuffie and Watson are believed to have earned more than $ 13 million through a series of public prosecutions and buying and selling using publicity, and the U.S. Department of Justice has identified both suspects in commodities and securities. Fraud collusion (up to 5 years in prison), securities and advertising fraud collusion (up to 5 years), money laundering collusion (up to 10 years), telegraph scam collusion 2 cases (up to 20 years), substantive communication fraud 2 I have been charged with the case (up to 20 years). McAfee was arrested in Spain as of October 2020 and has been in detention since then, but Watson was arrested in Texas on March 5, 2021.