United States: Anti-virus software creator John McAfee charged with fraud in cryptocurrency scam

Anti-virus software creator John McAfee has been charged in the US with conspiracy to commit fraud and money-laundering.

The charges relate to two cryptocurrency schemes, the US Justice Department said on Friday.

Authorities said McAfee and his bodyguard, Jimmy Gale Watson Jr, exploited McAfee’s large Twitter following to artificially inflate prices of “altcoins” through a so-called pump-and-dump scheme, and concealed payments McAfee received from start-up businesses to promote initial coin offerings.

McAfee, who designed software of the same name, was reportedly arrested in Barcelona in October 2020 while boarding a flight to Istanbul using a British passport.

The Justice Department, which brought the charges in a Manhattan federal court, said McAfee and his accomplices reaped more than $13m (£9.4m at current prices) from the schemes.

Related civil charges were filed by the Commodity Futures Trading Commission concerning the alleged pump-and-dump scheme.

The original full article can be found at sky.com

(Photo: AFP via Getty Images)

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