Software icon, McAfee, charged in cryptocurrency scam - Vanguard News

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Software icon, McAfee, charged in cryptocurrency scam vanguardnews

The creator of McAfee computer security software was facing charges Friday that he cashed in on a “pump-and-dump” scheme, by promoting cryptocurrencies on Twitter to drive up their value.

McAfee, Watson, and other members of their “cryptocurrency team” allegedly “raked in more than $13 million from investors they victimized with their fraudulent schemes,” according to Strauss. “When engaging in illegal activity, simply finding new ways to carry out old tricks won’t produce different results.”McAfee and Watson also used Twitter to promote digital tokens on behalf of initial coin offerings without disclosing they were being paid for their efforts by the startups, according to the indictment.

The arrest followed his indictment in June in the United States for tax evasion and willful failure to file tax returns between 2014 and 2018, despite earning millions from consulting work, cryptocurrencies and selling the rights to his life story.

 

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