While John McAfee is still incarcerated in Spain, the New York court raises more charges for committing cryptocurrency fraud.
John McAfee is an Internet security pioneer and also a strong cryptocurrency advocate. He is presently facing any criminal charges from the New York Court.
In a statement made by the US Department of Justice, New York, Southern District, McAfee faces a lot of charges, including:
“conspiracy to commit commodities & securities fraud, conspiracy to commit securities & touting fraud, wire fraud conspiracy & substantive wire fraud & money laundering conspiracy offenses from two schemes relating to the fraudulent promotion to investors of securities.”
The Doj released this statement recently outlining all the above charges against McAfee. But the Internet security pioneer is not the only one facing the charges. The Doj also added Jimmy Watson Jr. to the list for being a part of the “McAfee Team”.
This team was operating in digital assets, which gave rise to the charges of crypto-related fraud. According to the Doj statement, the authorities have already arrested Watson in Texas.
Charges Against John McAfee and Cryptocurrency Fraud
Before these new charges by the New York court, the US governing bodies had already charged McAfee for tax evasion & ICOs.
According to the charges, McAfee did an advertisement for compensation without informing the general public. He ran away from the United States in 2019, but in October, the authorities arrested him in Spain.
Since last year, the Internet security expert has been in prison. However, the charges against John McAfee were related to tax evasion, not cryptocurrency fraud.
But these new charges against McAfee & Watson are that the defendants used a popular social media platform, Twitter, to lie and deceive crypto investors. McAfee and his team made promises of millions to unsuspecting crypto enthusiasts.
This was a statement from Audrey Strauss, working as the attorney of the Southern District of NY. According to Strauss, the defendants used McAfee’s Twitter account to perpetrate the alleged act.
Still, on the charges, William Sweeney Jr. commented that the tactics which the defendants used are known as “pump-dump” tactics.
Sweeney Jr. is an assistant director of the FBI (Federal Bureau of Investigation). He also referred to the ICO promotion, which Watson and McAfee did without adequate public notice.
According to the DoJ notice, McAfee and Watson will face civil charges from the US Securities and Exchange Commission and the Commodity Futures Trading Commission.