John McAfee decries SEC crypto promotion allegations as 'overblown'


John McAfee called the U.S. government's allegations against him "overblown" in a statement published Saturday.

In a pair of tweets, McAfee wrote that "[m]y team evaluated every promotion based on management, business plans and potential. No one could have foreseen the altcoin market crash."

"We were paid in the same coins that crashed. The SEC allegations are overblown," he continued."

McAfee went on to claim that he "never sold a single coin."

McAfee was charged in a lawsuit from the SEC, first filed in October, related to his crypto promotions

The U.S. Department of Justice charged McAfee Friday with conspiracy to commit securities fraud, wire fraud conspiracy and money laundering conspiracy for activity related to his cryptocurrency venture, known as the "McAfee Team." A parallel action was filed by the CFTC. 

McAfee is currently being held in custody in Spain and faces extradition to the U.S. in a separate case focused on alleged tax evasion.

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May 5, 2022, 3:17PM UTC