The legal battle between US authorities and John McAfee continues now that his employee Jimmy Watson has pleaded guilty. A former bodyguard of an antivirus tycoon has pleaded not guilty in an alleged cryptocurrency fraud case.
McAfee and Watson, Jr. are accused of setting up the pump-and-dumpsystem.
According to court documents, Jimmy Gale Watson Jr. filed a motion with U.S. District Judge Kevin Fox in the Southern District of New York.
Watson Jr, a former Navy SEAL, was arrested in Texas earlier this month when authorities charged him with several counts, including money laundering and securities fraud. Both McAfee and Watson allegedly collected more than $13 million from cryptocurrency investors, according to law enforcement officials.
McAfee’s personal bodyguard reportedly served as a senior advisor to the McAfee team set up by the website to provide advice to cryptocurrency traders who were reportedly backed by the controversial tech entrepreneur.
The DOJ announcement, made on 5. March 2021 released details about the charges against the two individuals:
Conspiracy to commit commodity and securities fraud, conspiracy to commit securities fraud and disseminate information about the fraud, conspiracy to commit wire fraud and material fraud, and money laundering offenses arising out of two schemes in which cryptocurrencies were fraudulently promoted to investors that qualify as commodities or securities under federal law.
Moreover, according to U.S. authorities, both McAfee and Watson Jr. used McAfee’s personal Twitter account to underwrite and increase the price of digital assets before selling them and taking advantage of the pump-and-dump scheme.
US government tries to get McAfee out of Spain
Mr McAfee is currently in Spain, where he has been arrested by the Spanish authorities on charges of tax fraud.
While the former anti-virus tycoon awaits legal challenges in North America, the US government is working on his extradition for allegedly failing to file a tax return.
If McAfee is convicted of this charge, he risks more than five years in prison. Moreover, the flamboyant tech person also has legal issues with the Commodity Futures Trading Commission (CFTC), which has filed a separate lawsuit against him.
What do you think of this latest development in McAfee’s saga with US authorities? Let us know your comments in the section below.
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