comscore Software company founder McAfee charged with tax evasion | Honolulu Star-Advertiser
Top News

Software company founder McAfee charged with tax evasion

  • ASSOCIATED PRESS
                                Internet security pioneer John McAfee announces his candidacy for president in Opelika, Ala., in 2015. McAfee has been charged with evading taxes after failing to report income made from promoting cryptocurrencies while also doing consulting work, making speaking engagements and selling the rights to his life story for a documentary, prosecutors in Tennessee said today.

    ASSOCIATED PRESS

    Internet security pioneer John McAfee announces his candidacy for president in Opelika, Ala., in 2015. McAfee has been charged with evading taxes after failing to report income made from promoting cryptocurrencies while also doing consulting work, making speaking engagements and selling the rights to his life story for a documentary, prosecutors in Tennessee said today.

MEMPHIS, Tenn. >> Antivirus software entrepreneur John McAfee has been charged with evading taxes after failing to report income made from promoting cryptocurrencies while he did consulting work, made speaking engagements and sold the rights to his life story for a documentary, prosecutors in Tennessee said today.

A June indictment charging McAfee with tax evasion and willful failure to file tax returns was unsealed in federal court in Memphis today after McAfee’s arrest in Spain, where extradition to the U.S. is pending, the U.S. attorney’s office said in a news release.

Online court records do not show whether McAfee has a lawyer to speak on his behalf about the charges.

McAfee developed early internet security software and has been sought by authorities in the U.S. and Belize in the past.

The indictment said McAfee failed to file tax returns from 2014 to 2018, despite receiving “considerable income” from several sources. The indictment does not allege that McAfee received any income or had any connection with the antivirus software company bearing his name during those years, prosecutors said.

McAfee evaded taxes by directing his income to be paid into bank accounts and cryptocurrency exchange accounts in the names of others, the indictment said. McAfee hid assets from the Internal Revenue Service, including real estate property, a vehicle and a yacht, in the names of others, prosecutors said.

If convicted of all charges, McAfee could face up to 30 years in prison.

McAfee was released from detention in the Dominican Republic in July 2019 after he and five others were suspected of traveling on a yacht carrying high-caliber weapons, ammunition and military-style gear, officials in the Caribbean Island said at the time.

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature
Comments (5)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Scroll Up