San Francisco, March 6 (Ians) Prominent tech figure John McAfee, who founded the leading antivirus software provider McAfee, has been charged with securities fraud in the US over a cryptocurrency scheme that he ran on Twitter.
According to federal prosecutors, McAfee and his executive advisor-cum-bodyguard Jimmy Gale Watson Jr, earned nearly $2 million by requesting Twitter followers to invest in cryptocurrencies like Reddcoin and Dogecoin.
They later sold off their own holdings as the price of these cryptocurrencies went up, reports The Verge.
“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,” US Attorney Audrey Strauss said in a statement on Friday.
“The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.”
A computer programmer and businessman,