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Antivirus software pioneer McAfee charged by U S with cryptocurrency fraud

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money-laundering conspiracy charges stemming from two cryptocurrency schemes, the U.S. Justice Department said on Friday. Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr., of exploiting McAfee s large Twitter following to artificially inflate prices of altcoins through a so-called pump-and-dump scheme, and concealing payments McAfee received from startup businesses to promote initial coin offerings. The Justice Department said McAfee and his accomplices reaped more than US$13 million from the schemes. The charges were brought in Manhattan federal court. The Commodity Futures Trading Commission filed related civil charges concerning the alleged pump-and-dump scheme.

Ex-Software Exec McAfee Charged with Fraud

He and cohorts allegedly made over $13 million by fooling investors. Mar 8th, 2021 In this Dec. 12, 2012 file photo, anti-virus software founder John McAfee answers questions to reporters as he walks on Ocean Drive, in the South Beach area of Miami Beach, Fla. McAfee was indicted on fraud and money laundering conspiracy charges alleging that he and cohorts made over $13 million by fooling investors zealous over the emerging cryptocurrency market, authorities said Friday, March 5, 2021. AP Photo/Alan Diaz, File NEW YORK (AP) Antivirus software entrepreneur John McAfee was indicted on fraud and money laundering conspiracy charges alleging that he and cohorts made over $13 million by fooling investors zealous over the emerging cryptocurrency market, authorities said Friday.

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