Security News > 2021 > March > US indicts John McAfee for cryptocurrency fraud, money laundering
U.S. federal prosecutors have charged John McAfee, founder of cybersecurity firm McAfee, and his executive advisor Jimmy Gale Watson Jr for cryptocurrency fraud and money laundering.
In total, McAfee, Watson, and other members of the McAfee Team were able to collect over $13 million from two cryptocurrency pump-and-dump schemes, according to court documents.
Between December 2017 and October 2018, McAfee, Watson, and another team member also laundered the digital asset proceeds stemming from the scalping and ICO touting schemes.
"The defendants allegedly used McAfee's Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives," Manhattan U.S. Attorney Audrey Strauss said.
"McAfee, Watson, and other members of McAfee's cryptocurrency team allegedly raked in more than $13 million from investors they victimized with their fraudulent schemes."
The U.S. Securities and Exchange Commission has also filed civil charges against McAfee in a separate enforcement action.