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Cryptocurrency News

SEC dismisses claims against John McAfee, fines accomplice for ICO promo

07/17/2022

Less than a minute

2022.07.17 11:30

SEC dismisses claims against John McAfee, fines accomplice for ICO promo

The United States Securities and Exchange Commission (SEC) obtained the final judgment for an initial coin offering (ICO) promotion scheme against late entrepreneur John McAfee and accomplice Jimmy Gale Watson, Jr., filed on October 5, 2020.

In the original complaint, the SEC alleged that McAfee and Watson promoted ICO investments on Twitter (NYSE:TWTR) without disclosing that they were paid for them. Watson allegedly assisted McAfee in negotiating promotional deals with ICO issuers and cashing out the crypto payments, among other pump-and-dump charges.