Crypto Mogul John McAfee Arrested In Spain

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Last Updated on 6 October 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The well-known cybersecurity entrepreneur and one of crypto’s most interesting personalities, Mr John McAfee, was arrested in Spain over charges of tax evasion. He is being presented by the Securities and Exchange Commission with several charges, most notably for touting several crypto coins during the 2017-2018 ICO bull run.

According to the complaint, John McAfee received payment of more than $23.1 million in various crypto coins for promoting a number of these during Initial Coin Offerings (ICOs). As he was touting the coins, he failed to disclose that he was being paid to promote them.

Advertentie.

Predictions about BTC price

The official filing makes for a very interesting read for those in the community as the SEC was quite explicit in it’s complaint against the millionaire, stating:

McAfee’s extravagant posts (such as tweeting predictions about BTC price increases and promising to ‘eat my d**k on national television’ if such predictions did not pan out) … generated an enormous amount of publicity.

McAfee allegedly used his social media accounts to generate interest for the cryptocoins. In any case, he clearly knew which coins to keep as the document specifies that he was:

Paid bitcoin (BTC) and ether (ETH) worth more than $11.6 million, plus an additional $11.5 million worth of promoted tokens, as undisclosed compensation for his promotions of seven ICOs.

Should the charges result in a conviction,the now 75-year-old entrepreneur would be presented with a 30 year prison term.