John McAfee sued by SEC for ICO promotions, arrested on U.S. tax evasion charges

The U.S. Securities and Exchange Commission filed suit against crypto investor and promoter John McAfee for his past promotion of initial coin offerings (ICOs) on social media.

Per the complaint:

“From at least November 2017 through February 2018, McAfee leveraged his fame to make more than $23.1 million U.S. Dollars (“USD”) in undisclosed compensation by recommending at least seven “initial coin offerings” or ICOs to his Twitter followers. The ICOs at issue involved the offer and sale of digital asset securities and McAfee’s recommendations were materially false and misleading for several reasons.”

Specifically, McAfee was accused of not disclosing “that he was being paid to promote the ICOs by the issuers,” that he “falsely claimed to be an investor and/or a technical advisor when he recommended several ICOs,” that he “encouraged investors to purchase the securities sold in certain of the ICOs without disclosing that he was simultaneously trying to

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John McAfee, McAfee Associates Founder, Indicted on Tax Evasion Charges

John McAfee, a computer programmer best known for his anti-virus software, has been indicted on federal tax evasion charges after allegedly hiding assets from the IRS, including real property, a vehicle, and a yacht, the Department of Justice said Monday. McAfee, the founder of McAfee Associates, has been charged with tax evasion and willful failure to file tax returns, according to an unsealed June indictment following his arrest in Spain. Prosecutors allege McAfee earned millions of dollars from promoting cryptocurrencies, consulting, speaking engagements, and selling his life story for a documentary—but failed to file tax returns from 2014 and 2018. To avoid tax liability, McAfee allegedly directed his income to several bank accounts and cryptocurrency accounts and bought several items, including real estate, a yacht, and a car. The indictment, however, does not allege McAfee received any income from the anti-virus company he once founded.

The announcement comes just hours

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PSA: First Free Year of Apple TV+ Subscriptions Ending, Expect Charges on October 31

With the launch of the iPhone 11 lineup and the introduction of the Apple TV+ subscription service in the fall of 2019, Apple gave those who purchased an iPhone, iPad, Mac, or Apple TV a free year of Apple TV+.


For those who signed up for Apple TV+ right when it was available on November 1, 2019, those free year-long Apple TV+ accounts are expiring at the end of October. A year is a long time to remember to cancel a subscription, so we wanted to warn MacRumors readers not interested in keeping Apple TV+ that charges are imminent. The first subscribers will be charged for Apple TV+ on October 31, 2020.

For Apple TV+, Apple did not allow subscriptions to be canceled right after signup because doing so would end the subscription right away, so there are many potentially active Apple TV+ subscriptions out there. Here’s how to cancel.

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Militia groups like Oath Keepers pledge to protect property amid charges of racism

More than 100 protesters — some wearing all black and carrying pistols — marched up to the approximately 20 people who had gathered Thursday evening awaiting instructions from the Oath Keepers, a heavily armed civilian group that has guarded private businesses during racial justice demonstrations this year.

The man leading the protesters, Chris Will, 34, criticized the people in fatigues for showing up to defend property but not the life of the 26-year-old Black woman who was killed by Louisville police in her apartment in March.

“Why didn’t every single one of you motherf—ers put this s— on to come help Breonna Taylor when they killed her?” Will asked the armed men, pointing at their body armor.

Oath Keepers leaders urged members not to respond; escalating tensions with demonstrators would only feed public perception that they were the problem, not the solution.

Oath Keepers is one of numerous vigilante groups

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Members Of Videogame Hacking Group The Xecuter Arrested, Face 11 Felony Charges

KEY POINTS

  • The FBI have arrested two members of The Xecuter abroad last month
  • The group is known for their videogame exploits that allow users to play pirated copies of games
  • Max Louarn and Gary Bowser will each face 11 counts of felony 

Two members of an infamous piracy group have been arrested for their involvement in developing and selling illegal devices that hack popular videogame consoles.

French national Max Louarn, 48, and Canadian Gary Bowser, 51, were arrested abroad last month and charged with 11 felony counts including conspiracy to commit wire fraud, wire fraud, conspiracy to circumvent technological measures and to traffic in circumvention devices, trafficking in circumvention devices and conspiracy to commit money laundering, the Department of Justice said.

Shenzhen, China resident Yuanning Chen, 35, was also charged alongside Louarn and Bowser.

The Nintendo Switch has proved popular since launching in 2017 but the firm said it has entered a 'crucial' fourth year The Nintendo Switch has proved popular since launching in 2017 but the firm said it

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Nawaz Sharif, other PML-N leaders booked on treason charges

LAHORE: Former prime minister Nawaz Sharif and other Pakistan Muslim League-Nawaz (PML-N) leaders have been booked on treason charges, ARY News reported on Monday.



The case was registered at the PS Shahdara on the complaint of a local citizen Badar Rasheed.

Maryam Nawaz, former prime minister Shahid Khaqan Abbasi, former federal ministers Ahsan Iqbal, Pervez Rasheed, Khawaja and Rana Sanaullah were also named in the case.

Read more: Fayyazul Hassan Chohan demands Nawaz Sharif’s trial under treason charges

Elder Sharif and other PML-N leaders are deliberately defaming the state institutions and carrying out hate speeches, the FIR read.

Badar Rasheed in his plea further stated that Nawaz Sharif is convicted by Pakistani courts and doing speeches against the country’s institutions from London.

He has urged the authorities to take action against Nawaz Sharif and other PML-N leaders under the Pakistan Prevention of Electronic Crime Act.

Read more: Nawaz Sharif

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Dow Inc. to Pare Workforce Costs 6%, Take Charges

Storied materials-science company Dow Inc.  (DOW) – Get Report said that it would restructure, cutting “workforce costs” 6% and taking $500 million to $600 million of third-quarter charges for the effort.

It didn’t specify the amount of any layoffs.

The restructuring stems from the coronavirus pandemic, which has curbed demand for Dow products, the company said.

Besides the 6% cost cut, the revamp includes “[rationalizing] certain manufacturing assets,” the Midland, Mich., company said in a statement. 

“These actions are expected to result in total annualized [earnings before interest, taxes, depreciation and amortization] savings of more than $300 million by the end of 2021.”

The industrial intermediates-and-infrastructure segment will shut certain amines and solvents facilities in the U.S. and Europe, as well as select small-scale downstream polyurethanes manufacturing facilities. 

The performance-materials-and-coatings unit will shutter manufacturing assets, primarily small-scale coatings reactors.

“Given the expected gradual and uneven global economic recovery

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