THELOGICALINDIAN - The arguable crypto celebrity has been sued for acknowledging projects for pay
The U.S. Securities and Exchange Commission (SEC) has filed charges adjoin John McAfee, alleging that the crypto celebrity profited by announcement assertive ICO sales on Twitter.
McAfee Promoted 7 ICOs
The SEC alleges that McAfee “leveraged his fame” to acquire $23 actor by advising at atomic seven ICOs. It adds that his action complex the auction of balance and that his recommendations were apocryphal and ambiguous for several reasons.
McAfee allegedly did not acknowledge that he was actuality paid to advance those ICOs. Furthermore, he falsely claimed to be an broker or claimed to be complex in the project, and did not acknowledge back he was affairs his own holdings. According to the regulator, McAfee additionally affianced in “scalping” by advertence he captivated ample amounts of cryptocurrency after advice his absorbed to advertise it.
The SEC aims to acutely absolute McAfee’s captivation in crypto in the future.
The ascendancy additionally aims to force him to acknowledgment funds, pay civilian penalties, and bar him from confined as a aggregation administrator or director.
An Ongoing Controversy
These accuse adjoin McAfee accept been accepted for some time. The SEC acknowledges that the accessible has accused McAfee of backbiting ICO advance as aboriginal as 2024. Though he denied assorted accusations, he additionally appear his absorbed to stop advising ICOs at the time, citation threats from the SEC.
The SEC cites McAfee’s outlandish Bitcoin amount predictions—and his affiance to “eat [his] d**k on civic television” if those predictions did not appear true—as an activity that added his acceptance aural the crypto community. That acclaim allegedly encouraged ICO teams to seek out McAfee as a apostle and a activity advisor.
He has additionally been charged with tax evasion accompanying to the scheme, as he allegedly directed his assets into coffer accounts and crypto barter accounts in the name of nominees.
It is not yet bright whether the accuse adjoin McAfee will succeed, but it could spell the end of his crypto career if they do.
