SEC Alleges John McAfee Pumped Tokens for Profit
The U.S. Securities and Exchange Commission (SEC) has sued John McAfee for allegedly pumping initial coin offerings (ICOs) without disclosing he was being paid to do so.
- McAfee, a software magnate-turned-fugitive already on the run for alleged tax fraud, 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 55-page complaint filed Monday in the U.S. District Court for the Southern District of New York.
