John McAfee, the entrepreneur of antivirus McAfee, was arrested in Spain due to extradition charges. As per reports, he evaded tax in the US for a long time. Prosecutors informed that the man didn’t file tax returns for four consecutive years, even after earning millions from several jobs.
The man is not only famous for his credible software, but also consulting work, cryptocurrencies, speaking engagements, and selling rights for his biography. These incomes are not related to his software company that he owns. John has not yet commented on anything about the charges against him. If proven guilty, the man can be behind bars for almost 30 years.
The Justice Department of the US said that McAfee avoided tax and had income paid into banks, cryptocurrency exchanges, and has several nominees. He didn’t file for or pay tax from 2014 to 2018. The accusation includes concealing assets, including real estate, one yacht, and many other possessions.
Legal charges against John McAfee
You might use the software to protect your devices but might not know much about the entrepreneur John McAfee. Well, he is in the news for all the wrong reasons, after having successful years throughout his career.
The man’s charges came quickly after the US Securities and Exchange Commission informed a civil case against him. As per reports, John McAfee earned more than $23 million due to his fame and seven cryptocurrency exchanges from 2017 to 2018. The crypto assets are not worth anything and he informed that he got paid to be a part of those.
SEC is going to impose a penalty on the entrepreneur and seize gains he acquired illegally. He will also have to resign as the director of any business.
History of McAfee
Additionally, Jimmy Watson, the bodyguard of McAfee, has been charged as he abetted the sale of cryptocurrencies. There are more charges against him, but not revealed as of now. Neither of the men commented anything about the charges against them as yet.
John McAfee is one controversial personality in the world of technology. He became famous during the 80s when he formed his company. McAfee is the first-ever antivirus to sell commercially. The first product was the McAfee VirusScan and led to a billion-dollar industry.
Although John sold his business to Intel, he still develops the cyber-security application himself. The UK born man launched many unsuccessful bids as a Libertarian Party candidate for presidential elections twice – once in 2016 and once in 2020.
John McAfee had once expressed disdain for paying taxes. He had tweeted that he didn’t file for eight years as he thinks it is illegal to tax people.
In 2019, the man was detained by the Dominican Republic for carrying weapons to the country. Way back in 2012, the man made headlines when the Belize police started investigating the death of McAfee’s neighbor, Gregory Faull. George was a businessman from Florida and also someone of interest to John. Soon, McAfee left the US for safety concerns. However, he said that he had nothing to do with the murder.