McAfee software creator jailed in Spain Description video: John McAfee, an anti-virus software creator indicted for fraud in the United States, was in jail on Tuesday pending extradition procedures after being arrested in Barcelona airport at the weekend, sources said. […]
McAfee software creator jailed in Spain
John McAfee, an anti-virus software creator indicted for fraud in the United States, was in jail on Tuesday pending extradition procedures after being arrested in Barcelona airport at the weekend, sources said. \n \nSubscribe: http://smarturl.it/reuterssubscribe\n\nReuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled.\n\nGet the latest news on: http://reuters.com/\nFollow Reuters on Facebook: https://www.facebook.com/Reuters\nFollow Reuters on Twitter: https://twitter.com/Reuters\nFollow Reuters on Instagram: https://www.instagram.com/reuters/?hl=en
Founder of antivirus company McAfee faces jail for tax evasion and hidden advertising of cryptocurrency
John McAfee, founder of anti-virus software company McAfee and former US presidential candidate, has been charged with tax evasion.
According to an indictment filed in the U.S. District Court for the Western District of Tennessee, John McAfee, allegedly did not pay taxes for four years, despite the fact that between 2014 and 2018 he made millions of dollars in cryptocurrency, consulting activities, public speaking and selling the rights to film a documentary about his life.
The indictment alleges that McAfee dodged taxes by transferring his earnings to bank and cryptocurrency accounts of others, and also used strangers to hide ownership of property and assets, including a yacht.
The amount of McAfee debt has not yet been disclosed.
The indictment from June 15, 2020 was announced after the arrest of McAfee in Spain, where he is awaiting extradition, prosecutors said..
Law enforcement officials say that if McAfee is found guilty, he faces a maximum of five years in prison on each count of tax evasion and a maximum of a year for each willful failure to file a tax return. In addition a fine of 350 thousand dollars is expected.
The millionaire also suffered from a lawsuit by the Securities and Exchange Commission, which accused him of advertising several ICOs on Twitter, without mentioning the fact that the companies issuing these tokens are paying him to promote.
He falsely claimed to be an investor or technical advisor to the ICO that he recommended to his public, the SEC complaint says.. All this gave the audience an unsubstantiated impression of the project’s reliability..
«In fact, McAfee’s tweets were paid promotions disguised as objective investment advice.», – the complaint says.
The SEC said McAfee made more than $ 23 million from his recommendations, which the agency called «misleading».