U.S SEC Files Suit against McAfee

News • 2020/10/07 • by

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.

Comments (6)

Guest

freshprinx

6 years ago

There are more people like him that are in such acts, he should face the music

omogbai

6 years ago

The Rich usually steps on the masses to get to the top but not in advanced countries

godgrace1

6 years ago

US and their wahala self McAfee done enter wahala for making ICO,S public, i guess helping people out this days puts you n trouble

jenny50

6 years ago

What happens because of popularity

exodusab

6 years ago

It is not yet clear whether the charges against McAfee will succeed, but it could spell the end of his crypto career if they do.

visiblemoney

6 years ago

I think John McAfee record is never straight in public functions. He is always associated with lots of financial abuses and misconduct. First of his financial crime is tax evasion, he never declared the illegal ICO earnings of $23.1 to the relevant tax authority for due charge. Bad as it may, he was only helping in achieving illicit ICO promotions which could be targeting cheap investment funding by simulation. I think John deserves to be taken to court to face his trial. This will serve as deterrent for many of other John McAfees out there!!