Disgraced Anti-virus Software Creator John McAfee Arrested In Spain and Charged with Tax Evasion

October 6, 2020 By: Ben Abrams

John McAfee, known for creating the popular McAfee antivirus software, was arrested on a federal prosecutors unsealed inci and charged on Monday (Oct 6) in Spain with tax evasion for failing to file tax returns from 2014 to 2018 and other crimes.

Disgraced Anti-virus Software Creator John McAfee Arrested In Spain and Charged with Tax Evasion

Charges were announced shortly after SEC alleging that he made $23.1million in undisclosed compensation from recommending seven cryptocurrency offerings.

ohn McAfee was arrested in Spain on Monday after federal prosecutors unsealed an indictment against the creator of the eponymous anti-virus software over charges that he evaded taxes and willfully failed to file tax returns.

The US Justice Department announced the charges shortly after the Securities and Exchange Commission (SEC) revealed it had brought civil charges against McAfee, 75, alleging that he made over $23.1million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading.

The indictment, filed under seal in June, was unsealed following his arrest in Spain where the United States is seeking to extradite him.

On the super shady side of McAfee’s legal problems, according to the court papers, McAfee allegedly registered several purchases under someone else’s name, including a yacht, car and property that he bought, to avoid paying taxes.

The SEC has alleged that from at least November 2017 through February 2018, McAfee recommended cryptocurrencies he was paid to promote, while falsely denying such payments.

'McAfee leveraged his fame to make more than $23.1million in undisclosed compensation' by recommending at least seven initial coin offerings or ICOs to his Twitter followers, the SEC said according to the Daily Mail.

McAfee's recommendations were 'materially false' in that he tried to sell 'virtually worthless' cryptocurrency tokens by encouraging investors to buy the securities without disclosing his own holdings, the SEC alleged.

The SEC also wants McAffee permanently from serving as an officer or director of any listed company or any company that files reports to the agency.

The SEC is also pursuing charges against bodyguard to McAfee, Jimmy Gale Watson Jr, on charges he aided and abetted McAffee in the sale of the digital currencies.

If convicted of all charges, McAfee could face up to 30 years in prison.