John McAfee indicted for cryptocurrency scheme

John McAfee indicted for cryptocurrency scheme

McAfee was detained in Spain after being arrested on separate tax evasion charges filed by the tax division of the Ministry of Justice. Ministry officials said his extradition to the United States was pending. McAfee and Watson could not be reached immediately for comment on Friday.

Prosecutors allege McAfee and associates exploited the popularity of his Twitter account to perform what is called a “pump and dump” system.

McAfee and Watson initially bought large amounts of cryptocurrency at low prices, according to the indictment. Then they promoted these same digital tokens on Twitter, in an attempt to inflate their prices, by using false and misleading …

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