John McAfee, the cybersecurity entrepreneur and crypto personality, has been arrested in Spain and is awaiting extradition to the US.
Principal Deputy Assistant Attorney General Richard E Zuckerman of the Justice Department’s Tax Division and US Attorney D Michael Dunavant for the Western District of Tennessee, have revealed that a 15 June 2020 indictment against McAfee has been unsealed, charging him with tax evasion and willful failure to file tax returns, announced.
According to the indictment, John 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.
According to the indictment, 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 further alleges McAfee attempted to evade the IRS by concealing assets, including property, a vehicle, and a yacht, in the names of others.
If convicted, McAfee faces a maximum sentence of five years in prison on each count of tax evasion and a maximum sentence of 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.
An indictment merely alleges that crimes have been committed. The defendant is presumed innocent until proven guilty beyond a reasonable doubt.