/?pid=22376

Updated:06:50 PM EDT Nov 01


this is ggmania.com subsite McAfee and his advisor indicted over cryptocurrency fraud - TechAmok

McAfee and his advisor indicted over cryptocurrency fraud - [crime-law]
12:58 PM EST - Mar,06 2021 - post a comment

The Department of Justice (DoJ) in the United States has today unsealed an indictment against John McAfee and his advisor at his cryptocurrency team, Jimmy Gale Watson Jr. The DoJ said that the pair conspired to commit fraud by promoting cryptocurrencies and was able to sell the cryptocurrency for $13 million due to McAfee's large Twitter following and the enthusiasm of investors. According to the DoJ, Jimmy Gale Watson Jr. was arrested last night in Texas while John McAfee is already detained in Spain on other criminal charges that were previously filed by the DoJ's Tax Division. Commenting on the DoJ's statement, FBI Assistant Director William F. Sweeney Jr. said:
As alleged, McAfee and Watson used social media to perpetrate an age-old pump-and-dump scheme that earned them nearly two million dollars. Additionally, they allegedly used the same social media platform to promote the sale of digital tokens on behalf of ICO issuers without disclosing to investors the compensation they were receiving to tout these securities on behalf of the ICO. When engaging in illegal activity, simply finding new ways to carry out old tricks won't produce different results. Investment fraud and money laundering schemes carry a strict penalty under federal law.
According to the DoJ, the cryptocurrency team headed by McAfee leveraged Twitter to promote altcoins to McAfee's Twitter followers stoking enthusiasm. When the price began to rise for these altcoins, McAfee's team attempted to liquidate their proceeds into United States dollars. but a year after McAfee's Tweets, those who had invested saw a substantial decline in the price of the altcoins. In another scheme, the team promoted initial coin offerings for which they were compensated. To do this legitimately, it would have had to disclose the compensation but instead, it proactively hid the fact that it was receiving money for the promotions. The two men now face several different charges which in total carry prison sentences of up to 100 years as well as financial penalties.


Add your comment (free registrationrequired)

Short overview of recent news articles

Nov,01 2025 Battlefield REDSEC - Official Live-Action Trailer
Nov,01 2025 What's the Best PC Upgrade (besides CPU/GPU)?
Oct,31 2025 Directive 8020 - RTX On Trailer
Oct,30 2025 Stranger Things 5 - Official Trailer
Oct,29 2025 AMD Releases Software Adrenalin Edition 25.10.2 WHQL Drivers
Oct,29 2025 Exploding AMD CPUs | Investigating ASRock's Murderboards
Oct,29 2025 Setting Up Our First Huge Gaming Event was CHAOS
Oct,27 2025 Malware of the Future: What an infected system looks like in 2025
Oct,27 2025 F1: Race Highlights | 2025 Mexico City Grand Prix
Oct,26 2025 F1: Qualifying Highlights | 2025 Mexico City Grand Prix
Oct,25 2025 New Big Windows 11 25H2 October Update - New Taskbar Battery Icons
Oct,25 2025 Apple Prepping 'Transfer to Android' Feature, Including 3rd-Party
Oct,24 2025 HW News - RIP Internet, RAM Prices Skyrocket from AI Demand, Intel
Oct,21 2025 Retro Gaming PC Upgrades go WRONG!
Oct,21 2025 How social media has ruined us - the more time you spend online, the
Oct,20 2025 FERRARI 12 CILINDRI // 340KMH REVIEW on AUTOBAHN
Oct,20 2025 ROG Xbox Ally X - a PC Gamer's Perspective
Oct,20 2025 Race Highlights | 2025 United States Grand Prix
Oct,18 2025 RedMagic Puts Liquid Cooling in its New Gaming Phone
Oct,18 2025 Russia Says U.S. Is Planning a $37 Trillion Crypto Reset
Oct,18 2025 Tor Browser says no to Firefox's AI features as it removes them
Oct,14 2025 NVIDIA GeForce 581.57 WHQL Driver
Oct,13 2025 Samsung One UI 8.5 vs iOS 26 - COMPARISON
Oct,12 2025 Google Turned Down by Supreme Court, Must Open up App Payments
Oct,10 2025 AMD releases new 25.10.1 preview graphics driver with Battlefield 6
Oct,10 2025 MERCY Official Trailer (2026) Chris Pratt
Oct,07 2025 Galaxy S26 Ultra - Samsung, Please Don't Copy This
Oct,06 2025 Canada's Las Vegas Sphere is here - and I game on it
Oct,06 2025 Predator: Badlands - Official Final Trailer (2025)
Oct,04 2025 Chasing a Gaming World Record
Oct,02 2025 Frankenstein - Official Trailer (2025) Guillermo del Toro, Oscar
Oct,02 2025 iPhone 17 Pro Max vs 16 Pro Max / Pixel 10 Pro XL / Galaxy S25 Ultra
Sep,30 2025 iOS 26.0.1 is Out! - What's New?
Sep,30 2025 NEW! 2026 Audi Q3 2.0 TFSI (265hp) vs. e-hybrid (272hp)| 0-100 km/h
Sep,29 2025 Samsung One UI 8.5 Hands on - I Was Wrong
Sep,28 2025 iPhone Air Teardown - What is 3D Printed Titanium?
Sep,28 2025 Nvidia Wouldn't Send Me This $30,000 GPU - H200 Holy $H!T
Sep,27 2025 The Astronaut - Official Trailer (2025) Kate Mara, Laurence
Sep,25 2025 iPhone 17 Durability Test -- What Scratches are Permanent?
Sep,23 2025 iPhone 17 Pro Max vs. Galaxy S25 Ultra Drop Test!
>> News Archive <<

TechAmok - Privacy Policy        loading time:0.01secs