John McAfee was arrested in Spain on US charges of tax evasion and failure to report his income.
The SEC also filed a lawsuit against him for recommending multiple ICOs without notifying investors that he was being paid for it.
Mr McAfee is now awaiting his extradition from Spain
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The law has finally caught up with outlaw John McAfee. The crypto and antivirus pioneer has been struck twice by the United States Department of Justice and the Securities and Exchange Commission (SEC) together.
McAfee was arrested in Spain for US tax evasion and failure to report his taxes, something he has bragged about on social media before. In addition, he is being sued by the SEC for recommending more than half a dozen ICOs (Initial Coin Offerings). McAfee is said to have made more than $ 23 million by touting these operations, without revealing to investors that he was being paid.
“Catch it if you can”
John McAfee has documented his choice of life on social media, leaving authorities to tie the data and pinch him for tax evasion related to the millions of dollars he has made promoting cryptocurrency without reporting any penny between 2014 and 2018. The US Department of Justice said:
McAfee is said to have evaded his tax liability by ordering his income to be paid into bank accounts and cryptocurrency exchange accounts on behalf of representatives. The indictment also alleges that McAfee attempted to evade the IRS [US tax service] by concealing assets, including real estate, a vehicle and a yacht, on behalf of others.
– The United States is after me for tax evasion. Whatever ! I simply refused to pay. I have been open, honest and talkative about this for ten years. Wake up !
– John, that’s tax evasion.
– No. Tax fraud is a false declaration of income. I never did that. I just refuse to pay.
The response of the crypto community
McAfee, who has over a million Twitter followers, has adopted a runaway lifestyle for years. That said, he is also looking to get noticed and has already launched his own US presidential campaign as part of the Campaign of Libertarian . He has proven to be a source of entertainment in the crypto community for his extravagant claims, lavish lifestyle, and utter disregard for the law. Very true to his own style, he was even the originator of his own coin nicknamed Ghost. According to reports, however, his participation in the project was not successful.
John McAfee arrested for breaking all of humanity’s tax laws. The crypto community:
The trading on Coinbase is interrupted at the news of the arrest of John McAfee.
It looks like McAfee’s shenanigans have finally caught up with him, and he is now waiting to be extradited from Spain. He faces up to five years in prison for each count of tax evasion and up to one year for each count of failing to report his taxes.