Stefan Mileschin

US government will have a job getting his ill-gotten gains

Industry character John McAfee stuck two fingers at the US taxman by killing himself in a Spanish prison.

The US hoped to seize millions of dollars that McAfee was supposed to have owed from promoting cryptocurrencies, but now it seems that they are going to have to work for it.

For those who came in late, McAfee, who decades ago founded the anti-virus company that bears his name, was found dead in his cell just hours after Spanish courts approved his extradition to the US to face charges of tax evasion.

The taxman was miffed that McAfee had not filed tax returns from 2014 to 2018 even as he earned millions from "promoting cryptocurrencies, consulting work, speaking engagements and selling the rights to his life story for a documentary.

The US claimed McAfee owed more than $4.2 million in taxes. Separately, the US Securities and Exchange Commission claimed McAfee promoted investments in initial coin offerings without disclosing he was paid more than $23 million to do so. The US Department of Justice has a similar case against him.

According to the indictment, McAfee managed to avoid paying taxes by routing his payments through bank accounts and cryptocurrency accounts set up in other people's names and hiding assets like real estate, a vehicle and a yacht also under the names of others. Such a complex money trail could keep lawyers busy for years.

https://fudzilla.com/news/53141-mcaf...last-stitch-up