The United States SEC has initiated a suit against McAfee John for purportedly aiding the ICO's without revealing the Initial Coin Offering distributors were remunerating him, which violates the United States Securities rule.
From November 2017 to February 2018, the filed suit states that John capitalized on his popularity to get over $23.1 million in private payment, suggesting a minimum of 7 ICO's to his followers on Twitter.
The Securities and Exchange Commission states that seven unknown Initial Coin Offering distributors who secretly approached John's team to have him recommend publicly their ICO's for remittance in those tokens and BTC.
This is not legal and has formerly incited SEC to go after people who have also aided ICO's without revealing their financial share.
The commission's suit also points to a known time in John's record of a weird forecast of BTC's value. He eventually distanced himself from those forecasts and stated he was only trying to pull the public's interest in Bitcoin.
Source:Cointelegraph.
