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Accused of being a shanzhai currency believer? John McAfee denies the fraud charges

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McAfee said the SEC's allegations were exaggerated and that it had never sold promoted tokens.

'SEC Allegations Against Me Are Overblown', John McAfee Explains Why

Original source: Yuri Molchan, U.Today

Original translation: Daily Planet

encryptioncurrencyAdvocate John McAfee, the father of antivirus software, has been in a Spanish jail since the fall of 2020 awaiting trial and possible extradition to the United States. McAfee, who has been charged with a new crime by the US Department of Justice (DOJ), explained on Twitter why he thinks thatSecurities and Exchange Commission (SEC)"Allegations are" exaggerated."

How does McAfee pick the tokens to sell

McAfee used Twitter occasionally while in prison.He tweeted today that the SEC's charges were "overblown."

He explained how he and his team picked tokens to promote on Twitter from 2017 to 2019.

According to him, they willassessmentFor each promoted token, judge the management team, business plan, and token potential. He added that no one could have foreseen the collapse of the shanzhai market.

Moreover, McAfee claims that he was paid not in dollars but in tokens that he promoted and later crashed.

McAfee said that even when all the counterfeits collapsed, he never sold any of the tokens he received.

星球前线｜被起诉就装山寨币信仰者？John McAfee否认欺诈指控

McAfee's most promoted token is Docadpic (MTC), currently ranked 1320th on CoinMarketCap, trading at $0.002397.

"In the case of my most promoted token, Docadpic, I have faith in the tokens I promote. Even if it crashes, I still keep every token allocated to me. Not a single token has ever been sold. I always believe in the company."

McAfee faces new federal charges

According to theU.Today Reporting on March 5McAfee, who is in jail, is facing new federal charges by the U.S. Justice Department. He andExecutive Advisor of its Cryptocurrency Team & NBSP; Jimmy Gale Watson He was charged with securities fraud, wire fraud and money laundering. Watson was arrested in Texas on March 4. Manhattan U.S. Attorney Audrey Strauss said in a statement that the two men used social media to make their fortunes through "lies and deceit" from their familiesThe victimsinvestmentAre thereAnd grabbed more than $13 million.

According to a news release from the U.S. Department of Justice, McAfeeAnd team membersTwo fraud schemes were used. The first oneplanThat he and his team operated a Pump and Dump scheme on their Twitter accounts,From December 2017 to January 2018Grossed more than $2 million in illegal profits; In & have spentIt will be available from December 2017 to October 2018Digital asset proceeds are converted into dollars.

The secondplanIs to promote the ICO,December 20, 2017 - February 10, 2018During the period ofIn total,To obtainMore than $11 millionremuneration.The SEC alleges he did notDisclosure of theincomeremuneration.andTake measures toTo & have spentICO investors withhold this information.December 2017 - October 2018During the period ofConsolidate the digital asset income into U.S. dollars. In addition,From December 2017 to October 2018,McAfee andWatson To get another member of his team involved in a bank transaction,To purge the proceeds of its fraudulent ICO peddling scheme.

U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), respectively,rightMcAfee And & have spentWatsoncivillitigation.The two menIs an American citizen,Have been charged with seven counts, among themaThe conspiracyTo commit commodity and securities fraudsinThe supremeSentenced to 5 & have spentYears in prison;aThe conspiracyforSecurities trading andOffence of Selling FraudThe supremeCan be sentenced to & have spent5 years in prison; Two counts of conspiracy to commit wire fraud and two counts of material wire fraud, each of which carries a maximum sentence of 20 years in prison; And one count of conspiracy to commit money laundering, maximumCan be sentenced to 10 & have spentYears in prison.In addition to the possibility of jail timeEach charge also carries possible financial penalties.