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Tech titan John McAfee indicted for tax evasion

Lucas Manfredi
·1 min read

Tech titan John McAfee has been indicted for tax evasion and willful failure to file tax returns, according to charges announced by the Department of Justice Wednesday.

The June 15 indictment was unsealed following McAfee’s arrest in Spain where he is pending extradition.

JOHN MCAFEE: RIOTS MORE SERIOUS THAN MANY REALIZE

According to the indictment, McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary.

From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources. The indictment does not allege that during these years McAfee received any income or had any connection with the anti-virus company bearing his name.

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McAfee allegedly evaded his tax liability by directing his income to be paid into bank accounts and cryptocurrency exchange accounts in the names of nominees.

The indictment also alleges McAfee attempted to evade the IRS by concealing assets, including real property, a vehicle, and a yacht, in the names of others.

If convicted, McAfee faces up to five years in prison on each count of tax evasion and up to one year in prison on each count of willful failure to file a tax return. McAfee also faces a period of supervised release, restitution, and monetary penalties.

*This is a developing story.

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