6 Oct, 2020 @ 11:10
1 min read

IT mogul John McAfee arrested in Spain on multi-million dollar tax evasion charges

TECH entrepreneur John McAfee, founder of the popular anti-virus software programme that shares his name, has been arrested in Spain on tax evasion charges.

The 75-year-old is reportedly accused of not paying millions of dollars in tax in the US between 2014 and 2018.

The IRS in America released an indictment on the tech boss in June, leading to McAfee’s arrest as he was boarding a flight at Barcelona Airport.

From 2014 to 2018, he allegedly received millions of dollars in endorsements, cryptocurrency, appearances and television rights.

He is accused of accepting large sums of money into accounts under different names, or as cryptocurrency while using assets such as yachts and mansions to hide revenue.

An extradition order has been issued by the US District Court for the Western District of Tennessee to bring McAfee back to the States where he will face charges of tax evasion and failing to submit tax earnings.

He will also face charges of allegedly making millions of dollars recommending various cryptocurrency companies on social media without revealing he was being paid to promote them.

“In reality, McAfee’s tweets were paid promotions disguised as impartial investment advice,” the court notice claimed.

His alleged crimes could land him five years in prison along with one year for every year he failed to submit tax returns, plus over $350,000 in charges.

His anti-virus software to which he gained the majority of his earnings is not mentioned in the indictment, as it was sold to Intel in 2011.

The controversial mogul is no stranger to the authorities.

In July last year, McAfee was arrested by Dominican Republic armed forces for potentially carrying high caliber guns, ammunition and military equipment whilst holidaying on his luxury yacht.

James Warren

"James spent three years spent working as a junior writer at various English language newspapers in Spain before finding a home at the Olive Press. He previously worked for many years as a bid writer for an international motorsports company. Based in Cordoba since 2014, James covers the southern Subbetica region, northern and inland Malaga and the Axarquia area. Get in touch at [email protected] with news or trustworthy tips that you would like him to cover in these areas"

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