Antivirus Pioneer John Mcafee Charged With Fraud Over Cryptocurrency
According to federal prosecutors, McAfee and his executive advisor-cum-bodyguard Jimmy Gale Watson Jr. exploited McAfee’s large Twitter following to artificially inflate prices of “altcoins” through a so-called pump-and-dump schemes. They earned nearly $2 million by urging Twitter followers to invest in cryptocurrencies like Reddcoin and Dogecoin. They also landed some £8m ($11m) from various fledgling cryptocurrency organisations as payments to promote the start-ups. “As alleged, McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception....