John McAfee, the man behind McAfee antivirus software, was arrested in Spain on tax evasion charges. It is reported that McAfee has not paid taxes for four consecutive years despite making a lot of money between 2014 and 2018.
The indictment states that McAfee avoided paying taxes by not withdrawing his income from his bank account. He allegedly paid his money to the other bank account and cryptocurrency accounts. McAfee also hid the details of his property from authorities as they were not purchased in his name. His possessions include a yacht, which he reportedly hid from authorities and used it under someone else’s name. Interestingly, none of the properties discovered were in his name.
According to reports, if McAfee is convicted he will face a maximum of five years in prison for failing to pay taxes and one year for deliberately failing to file a tax return.
McAfee was also sued by the Securities and Exchange Commission for failing to disclose this Twitter paid him over $ 23 million in Bitcoin to promote Initial Coin Offerings (ICOs) Twitter between December and January 2018.
SEC stated in its complaint, “McAfee has promoted more ICOs on Twitter, allegedly pretending to be impartial and independent even though he received more than $ 23 million in digital assets for promotions. When some investors asked if he had been paid to promote ICOs, McAfee allegedly denied receiving any compensation from issuers. The complaint alleges that McAfee has made other false and misleading statements, such as claiming that it has personally invested in some of the ICOs and advised certain issuers. The complaint alleges that Watson assisted McAfee in negotiating promotion deals with ICO issuers, helping McAfee collect digital asset payments for promotions, and, for one of the ICOs McAfee was promoting, by having his then spouse tweet the interest in the ICO. Watson would have been paid at least $ 316,000 for his role. According to the complaint, while McAfee and Watson profited, investors remained in possession of digital assets that are now essentially useless. “
John McAfee, the man behind McAfee antivirus software, was arrested in Spain on tax evasion charges.
- John McAfee was arrested in Spain for failing to pay taxes.
- McAfee has failed to pay taxes for four consecutive years despite earning a lot of money between 2014 and 2018.
- If McAfee is convicted, he will face a maximum of five years in prison for failing to pay taxes