Posted on Mar 6, 2021
John McAfee charged with fraud over cryptocurrency
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Businessman John McAfee, creator of the McAfee anti-virus software, has been charged in the US with conspiracy to commit fraud and money laundering.
Mr McAfee and his bodyguard Jimmy Gale Watson Jr are accused of promoting cryptocurrencies to Mr McAfee's large Twitter following to inflate prices.
The currencies were then allegedly sold, making the pair $2m (£1.45m), prosecutors said.
The men have not commented on the charges.
Mr McAfee, 75, is currently being detained in Spain in relation to separate criminal charges relating to tax, which he denies. He faces possible extradition to the US.
Mr Watson was arrested in Texas on Thursday.
"Jimmy Watson is a decorated veteran and former Navy Seal. He fought for other people's rights and liberties, and he is entitled to and looks forward to his day in court to exercise some of those very rights," said his lawyer Arnold Spencer.
Mr McAfee and his bodyguard Jimmy Gale Watson Jr are accused of promoting cryptocurrencies to Mr McAfee's large Twitter following to inflate prices.
The currencies were then allegedly sold, making the pair $2m (£1.45m), prosecutors said.
The men have not commented on the charges.
Mr McAfee, 75, is currently being detained in Spain in relation to separate criminal charges relating to tax, which he denies. He faces possible extradition to the US.
Mr Watson was arrested in Texas on Thursday.
"Jimmy Watson is a decorated veteran and former Navy Seal. He fought for other people's rights and liberties, and he is entitled to and looks forward to his day in court to exercise some of those very rights," said his lawyer Arnold Spencer.
John McAfee charged with fraud over cryptocurrency
Posted from bbc.com
Cybersecurity
Navy SEALs
Fraud
Spain
Posted 4 y ago
Responses: 1
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SO... he invested in a product financial product whose top selling point was the ability to profit. Then he told everyone he knew about this product and its ability to create wealth and profits. Then... after the price had gone up and he realized the substantial profit potential of selling, he cashed in and... that's right, made a substantial profit. How DARE he profit off of something designed to create profits. How dare he profit off of something he advertised for it ability to create profits. That is just WRONG.
And then.. later... he was a paid advertiser for OTHER cryptocurrencies? How DARE he get paid to act as a spokesperson for a product he isn't even currently using. That should be illegal. Wait... what's that? The is how the overwhelming majority of the American advertising sector works? Oh.... well this is different because he did it on Twitter!!!
And then.. later... he was a paid advertiser for OTHER cryptocurrencies? How DARE he get paid to act as a spokesperson for a product he isn't even currently using. That should be illegal. Wait... what's that? The is how the overwhelming majority of the American advertising sector works? Oh.... well this is different because he did it on Twitter!!!
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