John McAfee Accused of Money Laundering and ‘pump and dump’ Crypto Conspiracy Schemes

John McAfee, funder and technical entrepreneur of a company for cybersecurity, McAfee has been charged with money laundering and fraudulent acts. McAfee promoted several projects related to cryptocurrency without revealing the fact; he was paid for it. McAfee, which is already in the custody of Spain because of separate tax charges are simultaneously being accused in conjunction with an advisor to McAfee, Jimmy Watson Jr. According to the statement of a press released on Friday; they are not only involved in making $13 million, from their investors, but also in the money laundering, security frauds, and wire frauds.

The documents of the court have stated that the Commodity Future Trading Commission (CFTC) is applying separate charges and civil penalties. In a statement by the U.S Attorney Auditory Strauss, McAfee’s Twitter account, with thousands of followers, was allegedly used by the offenders. They touted many virtual assets by using misleading and completely false statements on Twitter for the sake of fulfilling their self-interests. 

Assistant Director of FBI, Mr William Sweeney, states that these men of McAfee also earned $2 million by the ‘pump and dump’ scheme by promoting many initial coin offerings (ICOs) on social platforms without revealing its compensation. They bought a huge amount of altcoins and traded them publicly on social media accounts like Twitter to artificially increase their stock price value. After getting a short-term profit, they sold them off without revealing the ownership. 

Brief History of McAfee

McAfee, who is publicly known for sponsoring an anti-virus cybersecurity company, was also arrested in 2020 for not paying the tax charges. He also admitted the fact of not paying tax charges in a video, which was posted on Twitter last year. The Security and Exchange Commission prosecuted him in October for illegally promoting ICOs. Similarly, in 2012, he ordered to kill his neighbour in Belize. Therefore in 2019, he was ordered to pay $25 million by the court. (McAfee refused to pay as he denied involvement in the murder.) Another fact that must be noted is, he has not been arrested even a single time. The current charge yet another one added in his history.