SEC Sues John McAfee Over Promoting Cryptocurrency On Twitter

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    Aighearach shares a report from Reuters: The U.S. Securities and Exchange Commission (SEC) on Monday sued John McAfee, creator of the eponymous anti-virus software, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading. The regulator, which is seeking a trial by jury, alleged that from at least November 2017 through February 2018, McAfee recommended cryptocurrencies that he was paid to promote, while falsely denying “he was being paid by the issuers.” The SEC is seeking to impose on McAfee a civil penalty as well as disgorgement of ill-gotten gains, with interest. The agency also wants to ban him permanently from serving as an officer or director of any listed company or any company that files reports to the agency. “Poor John, surely he’s misunderstood,” writes Slashdot reader Aighearach. “John, come talk to us, do another Slashdot interview and tell your side! We’re here for you, and we have people who can do your taxes while you…” Slashdot reader Aighearach adds that McAfee is also facing charges for evading taxes and willfully failing to file tax returns. “John McAfee might not be able to give an interview about his SEC troubles after all, now that he’s on his way to the Big House,” writes Aighearach. Read more of this story at Slashdot.

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