McAfee was allegedly paid more than $23.1 million in cryptocurrencies for promoting some ICO token sales but he did not disclose that he was getting paid for it, the SEC claims. The DOJ also charged McAfee with a number of tax evasion counts and said he “willfully attempted to evade” paying the income taxes he owes the federal government.
The DOJ announced McAfee’s arrest in a press release and unsealed related indictment documents. The DOJ noted that the charges are solely against McAfee as an individual and no connections with the anti-virus company that bears his name was found.
The charges against McAfee don’t go into a lot of detail but describes 10 counts against the entrepreneur. McAfee is facing 5 counts of tax evasion that each hold a maximum prison sentence of 5 years, and also 5 counts of “willful failure to file a tax return,” that each is punishable by a maximum prison sentence of 1 year.
The SEC’s filing is far more interesting and goes into detail, it includes 55 pages describing a long investigation into McAfee allegedly being involved in fraudulent activity related to promoting some ICOs during 2017 and 2018. The report points out that McAfee is accused of receiving more than $11.6 million worth of Bitcoin and Ethereum tokens in return for promoting seven ICOs. However, those offerings weren’t named in the lawsuit. In addition, the lawsuit alleges that John McAfee received $11.5 million worth of tokens used for promotions.
Kyle James Lee – The AEGIS Alliance – This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.