Why was John McAfee in exile and why was he extradited?
John McAfee founder of McAfee Associates, famous for selling antivirus software has been found dead in his prison cell near Barcelona, Spain on June 23. The businessman had been iindicted for tax evasion and his extradition to the United States had been approved just before he committed suicide.
Why had he been arrested?
John McAfee, the founder of the antivirus software maker bearing his name, died in a prison in Spain on Wednesday after a Spanish court said he could be extradited to the United States for tax evasion. He was 75 years old. https://t.co/TEUc2SMIl4
– The New York Times (@nytimes) June 24, 2021
McAfee was arrested in Spain in October 2020 at the request of the US Department of Justice pursuing a case against the multimillionaire. Charges filed at the time of his arrest said more aftime of year McAfee had won millions of dollars and paid no income tax.
The arrest came after the Security and Trade Commission filed a complaint against McAfee on October 5, 2020. The complaint alleged that the tech entrepreneur had “capitalized on his fame do more than US $ 23.1 million (“USD”) in undisclosed compensation by recommending at least seven “initial coin offerings“Or ICO to its Twitter followers. The SEC argues that his participation was illegal because “the ICOs at issue involved the offering and selling of digital asset securities and McAfee’s recommendations were materially false and misleading for several reasons. “
In many ways, these fees boil down to false advertising as the SEC believed its supporters would believe he had controlled the companies and believed in the product. In fact, investigators found he was being paid to promote security – the ICO – without disclosing his personal identity.earnings earnings, which is illegal in the United States.
In March 2021, the Office of the United States Attorney for the Southern District of New York presented a formal indictment and the extradition process has started.
McAfee was found dead in his cell after committing suicide hours after his extradition to the United States was approved by the Spanish government. The Catalan government, the province where McAfee was being held, issued a statement saying the the evidence indicates that he committed suicide.