On October 6, infamous crypto enthusiast and IT entrepreneur John McAfee was arrested in Spain. He is awaiting extradition to the United States.
John McAfee was detained in Spain at the request of the United States. He will be extradited to the United States, where he is accused of repeated episodes of large-scale tax evasion, advertising fraudulent ICOs and giving public investment advice without obtaining the appropriate status and license and violating exchange trading rules.
He may face up to 15 years and multimillion-dollar fines.
Earlier, the US Securities and Exchange Commission (SEC) filed a lawsuit against McAfee for participating in the promotion of a number of ICO projects. According to the SEC, the entrepreneur received $23 million of income from advertising token sales. McAfee himself denied that he was promoting for money.
“When certain investors asked whether he was paid to promote the ICOs, McAfee allegedly denied receiving any compensation from the issuers. The complaint alleges that McAfee made other false and misleading statements, such as claiming that he had personally invested in some of the ICOs and that he was advising certain issuers,” SEC reports.
The SEC lawsuit even mentions McAfee’s “extravagant post” that he will “eat [his] dick on national television” if the bitcoin rate did not reach $500,000. From June 2017 to December 2017, McAfee increased the number of Twitter followers from 62,000 to 500,000, the regulator notes.
In June 2018, McAfee announced that he was stopping advertising ICO projects due to pressure from the SEC.
The list of ICOs promoted by McAfee included SAFEX, FINA Coin, Latium, Reddcoin, and others.
In September 2020, John McAfee turned 75.