Regulation

Tech Millionaire McAfee Indicted On Money Laundering Charges

grey hat hackers, hackathon, defi, apps

Tech millionaire McAfee got indicted on Fraud and Money Laundering charges with the US attorneys saying he orchestrated a huge pump and dump scheme shilled ICOs as we read more in our latest cryptocurrency news.

The charges revolve around the pump and dump scheme and multiple ICOs and one of McAfee’s crypto advisers is facing charges as well. The Tech Millionaire who’s now sitting in a Spanish prison and pending extradition to the US is now facing more charges of fraud and money laundering. The US attorney for the Southern District of New York announced that McAfee has been charged with “conspiracy to commit commodities and Securities fraud, conspiracy to commit securities, wire fraud conspiracy, fraud, and money laundering conspiracy offenses.”

A member of his crypto advisory team Jimmy Watson was charged as well and was arrested last night in Texas as the Justice Department said. The allegations revolved around endeavors in crypto with the first being pump and dump scheme where McAfee and his team purchased crypto and promoted them on Twitter and later sold them when they made enough profits. The second involves plenty of ICOs that Mcafee allegedly promoted without disclosing he was paid to do so. FBI Assistant Director William F. Sweeney Jr said:

 “As alleged, McAfee and Watson used social media to perpetrate an age-old pump-and-dump scheme that earned them nearly two million dollars. Additionally, they allegedly used the same social media platform to promote the sale of digital tokens on behalf of ICO issuers without disclosing to investors the compensation they were receiving to tout these securities on behalf of the ICO.”

crypto fund claiming, wright, bitcoin, cash,

McAfee dared authorities to come and get him where he vowed to rip the SEC a new “asshole” while remains detained in Spain on tax evasion charges. As reported recently, The SEC sued John McAfee, stating that he earned a lot of money by promoting crypto ICOs dishonestly. He allegedly earned more than $23 million by doing so. The regulator aimed to reduce his role in the crypto space and to also collect fines and penalties. The US Securities and Exchange Commission filed charges alleging that the crypto celebrity profited by promoting ICO sales on Twitter.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source Link

Related posts

Court Rejected Virgil Griffith’s Motion To Dismiss: Report

admin

India Seeks To Impose Strict Rules On Bitcoin-Again

admin

Paxos Strives To Get A Clearing Firm License: CEO Charles Cascarilla

admin

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More