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HomeU.S. Securities and Exchange Commission (SEC) sues ...
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U.S. Securities and Exchange Commission (SEC) sues McAfee for pumping initial coin offerings (ICOs)

Posted by: WhoIsMcAfee , October 6, 2020
  • the U.S. Securities and Exchange Commission (SEC) sued McAfee for allegedly pumping initial coin offerings (ICOs) without disclosing he was being paid to do so.
  • McAfee allegedly received BTC and ETH worth more than $11.6 million for promoting seven ICOs in 2017 and 2018.
  • He also allegedly received $11.5 million in the promoted tokens. The SEC does not name the projects in the suit.
  • The SEC outlined the securities violations in a filed Monday in the U.S. District Court for the Southern District of New York.
  • According to the SEC, McAfee raised a total of $23.2 million from projects which raised a cumulative $41 million.
  • “McAfee’s extravagant posts (such as tweeting predictions about BTC price increases and promising to ‘eat my d**k on national television’ if such predictions did not pan out) … generated an enormous amount of publicity,” the SEC said in its complaint.
  • The SEC is seeking civil penalties and an order prohibiting McAfee from serving as a public officer again in future.
  • The SEC also sued McAfee’s personal security guard, Jimmy Gale Watson, in the complaint
gov.uscourts.nysd_.545664.1.0_1Download

Tags: arrested, bitcoin fraud, crypto scam, eth fraud, fraud, ico fraud, John McAfee, john mcafee prison, mcafee scam, sec, U.S. Securities and Exchange Commission

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