Quantcast

Software Company Founder McAfee Charged with Tax Evasion

(Associated Press) Antivirus software entrepreneur John McAfee has been charged with evading taxes after failing to report income made from promoting cryptocurrencies while he did consulting work, made speaking engagements and sold the rights to his life story for a documentary, prosecutors in Tennessee said Monday.

A June indictment charging McAfee with tax evasion and willful failure to file tax returns was unsealed in federal court in Memphis on Monday after McAfee’s arrest in Spain, where extradition to the U.S. is pending, the U.S. attorney’s office said in a news release.

Online court records do not show whether McAfee has a lawyer to speak on his behalf about the charges.

McAfee developed early internet security software and has been sought by authorities in the U.S. and Belize in the past.

The indictment said McAfee failed to file tax returns from 2014 to 2018, despite receiving “considerable income” from several sources. The indictment does not allege that McAfee received any income or had any connection with the antivirus software company bearing his name during those years, prosecutors said.

McAfee evaded taxes by directing his income to be paid into bank accounts and cryptocurrency exchange accounts in the names of others, the indictment said. McAfee hid assets from the Internal Revenue Service, including real estate property, a vehicle and a yacht, in the names of others, prosecutors said.

If convicted of all charges, McAfee could face up to 30 years in prison.

McAfee was released from detention in the Dominican Republic in July 2019 after he and five others were suspected of traveling on a yacht carrying high-caliber weapons, ammunition and military-style gear, officials in the Caribbean Island said at the time.

TRENDING NOW

S&P 500 Sinks 3.5% as Virus Cases Surge, Election Tightens

(Associated Press) The Dow Jones Industrial Average dropped 943 points Wednesday as surging coronavirus cases in the U.S. and Europe threaten more...

Road, Logging Restrictions to End in Largest National Forest

(Associated Press) The federal government announced plans Wednesday to lift restrictions on logging and building roads in a pristine rainforest in Alaska...

Zuckerberg Donates $350M to Help Boost Democrat Voter Turnout

(Joshua Paladino) Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, have spent $350 million to boost election turnout in heavily Democratic areas, which prompted...

Arizona Realtor Arrested and Fired from Job After Hurling N-word

(MEAWW) An Arizona Realtor has been arrested after a video of him accosting two young black men outside his condo building with...

‘Who The Hell Elected You?’ Cruz Criticizes Twitter CEO for Censoring

(Daily Caller) Republican Texas Sen. Ted Cruz criticized Twitter CEO Jack Dorsey on Wednesday for censoring stories from the New York Post...