McAfee software creator jailed in Spain

Contents

John McAfee arrested for tax evasion

John McAfee arrested for tax evasion
CONTENT

  • Millionaire McAfee arrested for tax evasion

  • SEC accuses McAfee founder of fraud

  • Former presidential candidate ditches bitcoin

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Infamous computer genius and cryptocurrency advocate John McAfee was arrested in Spain on tax evasion charges. McAfee is also involved in a fraudulent scheme that raised over $ 23 million.

Former presidential candidate does not pay taxes

McAfee founder and former US presidential candidate John McAfee was arrested in Spain on multiple charges. Upon arrest, he was charged with tax evasion. According to the data, McAfee did not submit tax returns for the period from 2014 to 2018, that is, at a time when the market saw a rapid growth in Bitcoin and an ICO boom..

The indictment says that over four years McAfee made millions of dollars promoting ICO projects in which he acted as a consultant, as well as advertising cryptocurrencies and selling copyrights to his life story for a documentary.

John McAfee arrested for tax evasion

At the same time, the crypto millionaire did not pay a cent to the US state treasury..

According to an appendix to the indictment, if found guilty, McAfee faces up to five years in prison for each count of tax evasion and a maximum of one year for each count of willfully refusing to file a tax return. McAfee will also face a period of supervised release, restitution and a monetary fine of over $ 350,000, according to the indictment..

SEC accuses McAfee of fraud

However, McAfee faces more than just tax evasion in the US..

John McAfee arrested for tax evasion

The computer genius is also accused of ICO fraud. According to a resolution of the US Securities Commission (SEC), McAfee advised fraudulent ICOs and conducted advertising campaigns for projects on social networks, in particular on Twitter, acting as an independent consultant and advisor to projects.

“He also“ falsely claimed to be an investor and / or technical advisor when he recommended several ICOs. In fact, McAfee’s tweets were paid promotions disguised as impartial investment advice, ”the complaint says..

The Securities and Exchange Commission said McAfee made over $ 23 million from his recommendations, which the agency called “substantially false and misleading for several reasons.”.

Recall that earlier John McAfee nominated himself for the presidency of the United States, but admitted himself that he had no chance.

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John McAfee arrested for tax evasion

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