SEC Fines John McAfee’s Associate $375K in Penalties for ICO Promotions

According to a Securities and Exchange Commission (SEC) judgment, Jimmy Gale Watson, a former affiliate of the now deceased John McAfee, has been fined for being paid to advertise pump and dump-fashioned preliminary coin choices (ICOs). The SEC has dominated that Watson should pay roughly $375K in penalties and he’s not allowed to take part in any commercial-based or professionally-offered safety and digital forex schemes.

McAfee’s Associate Jimmy Gale Watson Fined $375K and Banned From Professional Securities and Digital Asset Schemes

• While John McAfee’s stays are still in a morgue in Spain, considered one of his associates, Jimmy Gale Watson, has been fined by the SEC and banned from skilled funding service and brokerage packages.
• Watson was ostensibly an “government adviser” of the “McAfee Team,” and he was charged with cash laundering and securities fraud after his arrest in Texas. U.S. legislation enforcement accused Watson and McAfee of endorsing ICOs after being paid and benefiting from “pump and dump” methods.

• The former “McAfee Team” affiliate entered a plea of not responsible in March 2021 and the case has continued with the SEC’s final judgment filed on July 13, 2022. The SEC has dominated that Watson should pay a positive of round $375K in penalties and the previous McAfee affiliate is barred from coping with securities and crypto belongings in knowledgeable method.
• Manhattan U.S. Attorney Audrey Strauss detailed when Watson was indicted that he allegedly leveraged McAfee’s Twitter account to advertise the ICO tasks. She famous that McAfee’s Twitter account held a “sturdy quantity of proof.”
• “The defendants allegedly used McAfee’s Twitter account to publish messages to a whole lot of 1000’s of his Twitter followers touting varied cryptocurrencies by false and deceptive statements to hide their true, self-interested motives,” Strauss declared on March 5.

• Meanwhile, John McAfee reportedly dedicated suicide in Spain simply over a yr in the past, however his widow Janice McAfee doesn’t settle for the Spanish officers’ story. “I’m not shopping for it,” McAfee’s widow explained in July 2021.
• Janice McAfee and different members of John’s household have petitioned the Spanish High Court to get a 3rd social gathering to do one other post-mortem on John’s physique and the authorized issues behind the pending request made it so his corpse continues to be positioned within the morgue.
• While Watson might must face different fraud prices going ahead, a Notice of Death was issued relating to McAfee and the SEC’s claims for reduction towards McAfee’s alleged crimes have been waived.

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