The arrest of "John McAfee" and his prosecution

The arrest of "John McAfee" and his prosecution on several charges related to subscriptions in the world of digital currencies (ICO)

"John McAfee" has always been known for his strange behavior and controversial statements, most notably the saying and speculation that Bitcoin will reach a million dollars in the current year 2020, and if he does not, he will cut one of his physical limbs, then back off and say it is just a joke.

The US Department of Justice had previously accused John McAfee of tax evasion, and the Securities and Exchange Commission (SEC) had accused him of offering IPOs without a license and obtaining $ 21 million worth of ICO digital coin offerings.

John McAfee was arrested while in Spain awaiting his extradition to the United States.

It was detected yesterday for a list of charges issued by the US Department of Justice on June 15 , and most of the tax evasion, and which stated that "McAfee" concealed digital assets and its currency and other bank accounts in different names to evade.

If convicted, he faces up to 30 years in prison.

Shortly before the announcement, it raised the Securities and Exchange Commission (SEC) civil complaint in court against one of the American provinces John McAfee, claiming that it has made a secret of more than $ 23 million from the promotion of seven IPOs from previous projects encrypted digital currencies.

As for McAfee's response to the total accusations, this was not possible after his arrest by the police forces.

The indictment alleges that "John McAfee" failed to pay taxes from 2014 to 2018.

In addition, the accusations say that to hide his earnings, he directed and distributed the funds through accounts in someone else's name.

As for how much McAfee should have paid in taxes on his cryptocurrency earnings, the SEC civil lawsuit sets out the details as follows:

The civil suit, in which it also cited former CEO Tim McAfee and bodyguard Jimmy Watson, alleges that John McAfee offered 8 ICOs without revealing that he was paid for doing so.

In fact, these IPOs raised $ 41 million.

McAfee received $ 11.6 million in Bitcoin and Ethereum, in addition to $ 11.5 million in digital currencies for the seven projects he contributed to promoting.

The Securities and Exchange Commission said Watson got $ 316,000 for his help.

McAfee has been charged with violating Article 17 of the Securities Law and Article 10 of the Securities Law.

According to the Securities and Exchange Commission, "McAfee" lied to investors, claiming that he was being paid from the same projects.

According to what was stated in the indictment, the following:

McAfee falsely claimed to be an investor and / or technical advisor when he recommended several ICOs, giving the impression that he had vetted these companies, that they were benefiting from his technical expertise, and that he was willing to invest his own money in these projects.

Whereas, in fact, McAfee's tweets were paid promotions masked in the form of impartial investment advice.

To withdraw funds, McAfee encouraged investors to buy securities sold in some ICOs without disclosing that he was simultaneously trying to sell his private property and paying a third party to promote it.

The complaint does not name the ICOs that took place between December 2017 and early 2018, but does provide some details:

• IPO 1: From a group based in Romania

• IPO 2: From a British company operating in Nigeria

• IPO 3: From the company "Blaze" operating in Las Vegas

• IPO 4: From the Atlanta Corporation

• IPO 5: From San Francisco Corporation

• IPO 6: From the Miami Corporation

• IPO 7: From a Virgin Islands company operating in Moscow

• IPO 8: From a British company

The US Securities and Exchange Commission (SEC) is asking the court to order John McAfee and Jimmy Watson to return all illicit gains that they obtained as a result of the alleged violations mentioned in this article, in addition to fines.

The SEC also seeks to permanently prevent "McAfee" from participating in cryptocurrency sales and subscriptions, or working as a director or official of a company offering registered securities.