Monday, May 27, 2024

SEC rejects John McAfee’s allegations and punishes an accomplice for ICO promotion.

The Securities and Exchange Commission of the UE has come to its final judgment when it comes to an ICO promotion scheme that was played against John McAfee. McAfee, the late entrepreneur as well as his accomplice, a man named Jimmy Gale Watson Jr. initially filed for this judgement on the 5th of October 2020.

In the complaint that was made originally, the SEC was found to allege that both McAfee as well as Watdon was responsible for promoting investments in ICO. The SEC had revealed this on Twitter without disclosing how much was paid to them.

The Allegations Against McAfee And Watson

It was originally alleged by the SEC that Watson provided assistance to McAfee when it came to the negotiation of deals that were promotional, pertaining to the ICO issuers. Watson was also alleged to have helped McAfee with cashing out the payments related to cryptocurrency, among other charges.

The District Court of New York’s Southern District had found Watson guilty when it came to violating laws. They had then imposed a fine of $375,934.86 on him. Watson is also barred from participation in the issuance, purchase, sale or offer of ICOs.

According to the litigation, this injunction does not prevent Watson from either buying or selling his securities through his personal account. The claims of the SEC against McAfee are now dismissed. This happened after the Commission filed their notice of death for the entrepreneur.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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