John McAfee arrested and prosecuted on several charges related to ICOs
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer John McAfee arrested and prosecuted on several charges related to ICOs
“John McAfee” has always been known for his strange behavior and controversial statements, most notably saying and predicting that Bitcoin will reach one million dollars in the current year 2020, and if he does not do so, he will cut off one of his physical limbs, then retreat and say that it is just a joke.
The US Department of Justice has previously charged John McAfee with tax evasion, and the Securities and Exchange Commission (SEC) has charged him with offering unlicensed IPOs and obtaining $21 million in ICOs.
John McAfee has been arrested while in Spain awaiting extradition to the United States.
It was completed detection Yesterday, on the list of charges issued by the US Department of Justice on June 15, mostly related to tax evasion, which stated that “McAfee” hid his digital currencies and other assets in bank accounts under different names to evade.
Read:What is the role of Binance in philanthropy around the world?
If convicted, he faces up to 30 years in prison.
Shortly before the announcement, Lifted The US Securities and Exchange Commission (SEC) has filed a civil complaint in US district court against John McAfee, alleging that he secretly made more than $23 million from promoting seven previous IPOs of cryptocurrency projects.
As for McAfee’s response to the accusations, this was not possible after his arrest by the police force.
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 funds through accounts in someone else’s name.
As for how much McAfee should have paid in taxes on his crypto winnings, the SEC’s civil suit lays out the details as follows:
The civil lawsuit, which also mentions former CEO Tim McAfee and bodyguard Jimmy Watson, alleges that John McAfee offered 8 initial coin offerings without disclosing that he was paid for doing so.
But in fact, these IPOs managed to raise $41 million.
McAfee received $11.6 million in bitcoin and ethereum, in addition to $11.5 million in cryptocurrency for the seven projects he helped promote.
Read:Find out who put the stakes of ETH in the Ethereum 2.0 contract? Are they in profit or loss?
The Securities and Exchange Commission said Watson received $316,000 to help him.
McAfee was charged with violating Section 17 of the Securities Act and Section 10 of the Securities Act.
According to the SEC, McAfee lied to investors, claiming he was paid by the projects themselves.
According to the indictment, the following is stated:
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.
In reality, McAfee’s tweets were paid promotions disguised as impartial investment advice.
To withdraw the funds, McAfee encouraged investors to buy the securities sold in some ICOs without disclosing that he was simultaneously trying to sell his own holdings and paying a third party to promote it.
The complaint does not name the ICOs that occurred between December 2017 and early 2018, but does provide some of their details:
- IPO 1: From a group based in Romania
- IPO 2: From a British company operating in Nigeria
- IPO 3: From “Blaze” company operating in Las Vegas
- IPO 4: From Atlanta
- IPO 5: From the San Francisco Company
- IPO 6: From Miami Corporation
- IPO 7: From the Virgin Islands company operating in Moscow
- IPO 8: From a British company
Read:Ethereum hits a new record high, coinciding with a huge increase in the number of addresses
The SEC is asking the court to order John McAfee and Jimmy Watson to return all illicit gains they received as a result of the alleged violations mentioned in this article, as well as fines.
The SEC is also seeking to permanently prevent McAfee from participating in the sale and subscription of digital currencies or acting as a manager or official in a company that offers registered securities.
Read also:
Who is John McAfee? What is its relationship to the cryptocurrency industry?
John McAfee does not invest in digital currencies and reveals his use of only two digital currencies!
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time