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Kindly Share This Story: The creator of McAfee computer security software was facing charges Friday that he cashed in on a “pump-and-dump” scheme, by promoting cryptocurrencies on Twitter to drive up their value. John McAfee, founder of the antivirus firm that bears his name, and Jimmy Watson face charges of conspiracy, fraud, and money laundering in connection with schemes to trick cryptocurrency investors, according to an indictment unsealed by the US Department of Justice. “McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception,” US attorney Audrey Strauss said in a release. McAfee, Watson, and other members of their “cryptocurrency team” allegedly “raked in more than $13 million from investors they victimized with their fraudulent schemes,” according to Strauss. Pump-and-dump schemes typically involve over-hyping the value of … [Read more...] about Software icon, McAfee, charged in cryptocurrency scam

Anti-virus software creator John McAfee has been charged in the US with conspiracy to commit fraud and money-laundering. The charges relate to two cryptocurrency schemes, the US Justice Department said on Friday. Authorities said McAfee and his bodyguard, Jimmy Gale Watson Jr, exploited McAfee's large Twitter following to artificially inflate prices of "altcoins" through a so-called pump-and-dump scheme, and concealed payments McAfee received from start-up businesses to promote initial coin offerings. McAfee, who designed software of the same name, was reportedly arrested in Barcelona in October 2020 while boarding a flight to Istanbul using a British passport. The Justice Department, which brought the charges in a Manhattan federal court, said McAfee and his accomplices reaped more than $13m (£9.4m at current prices) from the schemes. Advertisement Related civil charges were filed by the Commodity Futures Trading Commission concerning the … [Read more...] about Anti-virus software creator John McAfee charged with fraud in cryptocurrency scam

Anti-virus software creator John McAfee has been detained at a Spanish airport after being indicted in the US on fraud charges, according to the Reuters news agency. McAfee, who designed software of the same name, was reportedly arrested in Barcelona on Saturday while boarding a flight to Istanbul using a British passport. Reuters says he has now been moved to Madrid, where he will face an extradition process to the US. Prosecutors in the US have unsealed an indictment against the software mogul over charges that he wilfully failed to file tax returns, and that he evaded taxes. McAfee, 75, is a famous libertarian who believes that tax is wrong and has in the past boasted of not paying his taxes. Advertisement He launched a presidential campaign in the US in 2018, but failed to gain any traction as an independent candidate or as one for the Libertarian Party. The Securities and Exchange Commission revealed it has brought civil charges against … [Read more...] about Anti-virus software creator John McAfee ‘detained at Spanish airport’ over US fraud charges