Showing posts with the label cryptocurrencies

US Justice Department Charges John McAfee with Cryptocurrency Fraud

 The US Department of Justice has charged antivirus software entrepreneur John McAfee with money laundering and fraud offences stemming from two crypto schemes . The Justice Department charged McAfee, 75, and his bodyguard, Jimmy Gale Watson Jr,40, in a newly unsealed indictment in Manhattan federal court on Friday, February 5. The prosecutors described Jimmy Gale Watson Jr as an executive adviser who served as the head of MacAfee’s cryptocurrency team . Detectives arrested Watson in Texas on Thursday, February 4, and he would make an initial appearance on Friday next week before a federal magistrate judge in Dallas. The authorities accused McAfee and Watson of exploiting McAfee’s large Twitter following to artificially inflate prices of cryptocurrencies through a pump and dump scheme and concealing payments that McAfee obtained from startup businesses to promote initial coin offerings. According to the US Department of Justice, McAfee and his cohorts made over $16.9 million by fool