John McAfee arrested for tax evasion. The SEC is chasing him for promoting ICO
The US Securities and Exchange Commission (SEC) has indicted John McAfee of promoting Initial Coin Offering (ICO) tokens without disclosing the rewards received for these services. The founder of an antivirus software firm is already on the run. He is accused of tax fraud.
According to the SEC, McAfee received over $ 11.6 million in bitcoin and air for promoting seven ICO campaigns in 2017-2018. Presumably, $ 11.5 million was also paid to him in his own project tokens. Their names were not specified in the SEC's claim.
“From at least November 2017 to February 2018, McAfee used his fame to earn over $ 23.1 million in undisclosed compensation by recommending at least seven ICOs to his Twitter followers. These ICOs carried out the offer and sale of digital securities. McAfee's recommendations were false in substance and misleading for several reasons, ”the SEC writes.
In particular, McAfee made false statements that he was an investor or technical advisor to these ICOs in order to attract investors to them. At the same time, he tried to sell his own assets and paid third parties to support marketing activities.
The 55-page lawsuit was filed Monday in the Southern District of New York City Court on Monday. It also includes the name of former Team McAfee CEO Jimmy Watson, who is called McAfee's bodyguard. Blockchain projects Apollo, Azhos, Skycoin, Luxcore and Bitfi wallet are announced as strategic partners on the Team McAfee website. The SEC intends to recover from McAfee and Watson illegally received remuneration, fines and prohibit them "directly or indirectly from participating in the issue, purchase, offer or sale of any securities in the form of digital assets."
In June 2018, McAfee wrote on Twitter: “Due to SEC threats, I no longer work with ICOs and do not recommend them. All ICO organizers can wait for arrest. "
According to an earlier publication by Decrypt, McAfee asked for up to 20% of the emission of project tokens for his participation.
According to The Spectator Index, John McAfee was arrested in Spain at the request of the United States in connection with tax violations.
The US Department of Justice also reports that McAfee has been arrested for tax evasion and willful failure to file a tax return. He will be extradited to the United States.
“According to the indictment, John McAfee made millions of dollars from promoting cryptocurrencies, consulting, speaking and selling the rights to make a documentary about his life. From 2014 to 2018, McAfee allegedly did not file tax returns, despite receiving significant income from these sources, ”the Justice Department said in a statement.
The prosecution claims that McAfee hid his earnings by transferring them to bank accounts and accounts on cryptocurrency exchanges registered with nominal owners. Likewise, he concealed other assets, including real estate, a vehicle and a yacht. On each of the counts of tax evasion, 75-year-old McAfee faces up to five years in prison.