John McAfee Indicted for Cryptocurrency Fraud; Feds Charge ‘Age-Old Pump-And-Dump Scheme’

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The Justice Department on Friday charged antivirus software company founder John McAfee with seven counts of fraud related to promoting cryptocurrencies on social media.

In a statement, FBI Assistant Director William Sweeney said the 75-year-old McAfee and an associate, 40-year-old Jimmy Watson, used social media “to perpetrate an age-old pump-and-dump scheme that earned them nearly $2 million dollars.” He also said they “allegedly used the same social media platform
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