5/6/2023 0 Comments Mcafee antivirus creator![]() ![]() "McAfee Team members collectively earned more than $2 million in illicit profits from their altcoin scalping activities," the Department of Justice alleges. In the "scalping" scheme, McAfee and his team allegedly bought large amounts of cheap cryptocurrency altcoins, then aggressively promoted them online with "false and misleading endorsement tweets" to artificially inflate their market prices. In 2019, he was ordered to pay $25 million in damages over the killing of a former neighbor in Belize in 2012. McAfee resigned from the antivirus company he founded in 1994, but in 2013 created a profane parody video explaining how users can uninstall the software. McAfee, who presents a larger-than-life online persona and has twice run for president, is currently being held in Spain, where he faces separate criminal tax evasion charges. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() "McAfee, assisted by Watson, allegedly leveraged his fame to deceptively tout numerous digital asset securities to his followers without informing investors of his role as a paid promoter.Best Debt Consolidation Loans for Bad Credit "Potential investors in digital asset securities are entitled to know if promoters were compensated by the issuers of those securities," said Kristina Littman, the SEC's cyber unit chief. The SEC is also pursuing charges against Jimmy Gale Watson, Jr., a bodyguard to McAfee, on charges he aided and abetted the sale of the digital currencies, among other allegations. The agency also wants to ban him permanently from serving as an officer or director of any listed company or any company that files reports to the agency. The SEC is seeking to impose on McAfee a civil penalty as well as disgorgement of ill-gotten gains, with interest. McAfee's recommendations were "materially false and misleading," in that he tried to sell "virtually worthless" cryptocurrency tokens by encouraging investors to buy the securities without disclosing his own holdings, the SEC alleged. "McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation" by recommending at least seven initial coin offerings or ICOs to his Twitter followers, the SEC said. The SEC has alleged that from at least November 2017 through February 2018, McAfee recommended cryptocurrencies he was paid to promote, while falsely denying such payments. Despite this income, the Justice Department said he failed to file any tax returns from 2014 to 2018. He is alleged to have earned millions in income from promoting cryptocurrencies, as well as through consulting work, speaking engagements, and selling the rights to his life story for a documentary. The indictment, filed under seal in June, was unsealed following his arrest in Spain where the United States is seeking to extradite him. ![]() Justice Department announced the charges shortly after the Securities and Exchange Commission revealed it had brought civil charges against McAfee, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading. Federal prosecutors unsealed an indictment on Monday against John David McAfee, creator of the McAfee anti-virus software, over charges that he evaded taxes and willfully failed to file tax returns. ![]()
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