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Antivirus Software Pioneer John McAfee Indicted for Tax Evasion in U.S.

UTC by James Lovett · 3 min read
Antivirus Software Pioneer John McAfee Indicted for Tax Evasion in U.S.
Photo: Gage Skidmore / Flickr

John McAfee is now facing accusations of failing to file U.S. tax returns for the period 2014 to 2018.

The U.S. Washington Justice Division has revealed that John McAfee was charged for not disclosing the millions he allegedly got from cryptocurrencies, consulting jobs, speaking engagements, and the sale of the rights to his life story documentary. He also failed to disclose significant assets such as a vehicle, a yacht as well as real estate properties that exist in other people’s names. Following the arrest of McAfee in Spain, the federal court in Memphis on Monday unsealed a June 15 indictment charge for tax evasion and willful failure to file tax returns.

McAfee is therefore facing accusations of failing to file U.S. tax returns for the period 2014 to 2018. Now he is being held pending extradition. If it happens that he is convicted of all charges, the British-American software pioneer could even face up to 30 years in jail.

Back in July 2019, McAfee was released after serving a detention term in the Dominican Republic. According to Caribbean Island officials reports at that time, the Antivirus software entrepreneur, together with five others, were suspected of carrying ammunition, military-style gear and high-caliber weapons on a yacht they were traveling in.

John McAfee became a prominent figure after developing an antivirus company McAfee, which produces internet security software. Surprisingly, he later rocked the world headlines in 2012 when he was vigorously sought by U.S. authorities following the murder of his neighbor in Belize, even though he wasn’t charged with a felony.

The 75-year-old controversial and eccentric came into limelight after returning to the U.S. and registering as a candidate for the 2016 presidential election. He also tried his luck again this year as a Libertarian, but unfortunately, his campaign ended in March. 

SEC Accused McAfee of Numerous Claims Including Tax Evasion

Only hours after McAfee had been sued by the U.S. Securities and Trade Fee for engaging in cryptocurrencies sale without disclosing that he received payments so that he took action, there was the introduction of prison prices. Per fee claims, McAfee didn’t reveal that he earned more than $23 million from not less than seven preliminary coin choices between November 2017 to February 2018.

Another accusation is his denial of receiving payments following traders’ requests. Therefore, the SEC wants to disgorge McAfee all his ill-gotten good points besides giving him unspecified financial penalties and banning him engaging in the issuance and buy or sale of digital asset securities. Investor or technical advisor claims were also other accusations from the fee after saying that certain corporations benefited from his technical experience.

Out of the choices he promoted, McAfee held “just about nugatory” securities that he received payments as claimed. He didn’t reveal that those were his personal securities, and he had solicited for 3rd social gathering to advocate and inspire traders to buy them.

Business News, Cryptocurrency news, News
James Lovett

James Lovett is a talented crypto enthusiast who finds pleasure in sharing more knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. He likes to keep himself furnished and updated with the latest innovation in the crypto industry, blockchain technology, Internet of Things (IoT) and other technologies. As a result, he tries to furnish ardent crypto supporters with the latest news on blockchain and distributed-ledger technologies. Indeed, Blockchain and Cryptocurrency is changing the world as we know “one block at a time”. As a hobby, he also trades in small amounts of cryptos every now and then. An author with experience writing for tech, digital, and cryptocurrency blogs!

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