If you have a computer, you know the name McAfee. It comes with your PC security software. And even if you get a different software system, don’t forget that you are present with this constant alert.
Thus, it is no surprise that the founder of the software, John McAfee, has a large net worth. However, this has not come solely from McAfee’s security system or legal methods. The US government indicted John McPhee for tax evasion and securities fraud after allegedly being part of a “pump-and-dump” cryptocurrency investment scam.
While John McAfee is fighting his extradition to Spain, we’re going to keep an eye on the world’s most familiar cyber security system builder and what his total assets are – with or without the scandal.
Rise of McAfee
John McAfee was born in England in 1945 to a US Air Force pilot and an English mother. He was raised in Virginia and earned a degree in mathematics in 1967. Money, Inc. He worked as a programmer for NASA and taught classes. He founded McAfee & Associates in 1987, but sold his shares and resigned in 1994 Money Inc.That is why when Intel bought McAfee in 2010, it did not find a large buyer.
After starting several business ventures, John McAfee earned a total of $ 100 million in assets, including a $ 25 million home in Colorado, another house in Hawaii, and a jet plane.
McAfee Net Worth
If John McAfee created this universally installed software, it should roll in the dough by today, right? You may be surprised to know that this is far from the case.
According to Celebrity Net Worth, John McAfee is worth only $ 4 million. He used to be worth $ 100 million, but, as Celebrity Net Worth explained, a series of bad investments made his net worth a little over $ 100 million after the 2008 recession.
In particular, John McAfee made a series of bad investments, including a large wager on Lehman Brothers, which caused his net worth to crash and burn.
pump and dump
Get your mind out of the drain – it’s more G-rated than it sounds! A pump and dump is an illegal scam to artificially inflame the price of the stock itself through false or misleading claims, then use those shares to sell at inflated prices. And according to the US government, what John McAfee did to boost his net worth slightly.
“As alleged, McAfee and Watson used social media to scuttle an old-fashioned pump-and-dump scheme that earned them nearly two million dollars”, the FBI said against John McAfee Said after disclosing allegations of the indictment. With this plan, McAfee’s total assets grew to about $ 2 million.
Investigators pushed the plan forward between 2017-2018, where John McAfee gave several different types of cryptocurrencies to his followers on Twitter and various social media platforms. After selling the cryptocurrency, their price will drop according to a lawsuit filed against McAfee.
“apart from this [McAfee and his associates] The same was allegedly done to promote the sale of digital tokens on behalf of ICO (Initial Coin Offering) issuers, without disclosing the compensation they were getting from the FCO to postpone these securities. The social media platform was used, the FBI elaborated. The ICO scheme may bring net assets of up to $ 13 million.
This said, this is not the first time John McAfee is on the wrong side of the law. Money Inc. Elaborate McAfee is famous for believing that taxes are illegal, so he moved to Belize to avoid them after selling his property for “money on the dollar” according to Celebrity Net Worth. He sold his $ 25 million house under John McAfee’s fortune to be worth it.
And while it is not illegal to reduce your net worth, it is incredibly illegal to manufacture drugs. In 2012, the Gang Suppression Unit of the Belizean Police Department raided John McAfee’s home and accused him of illegal drug manufacturing and possessing weapons. However, he later released him without any charges.
However Belize was not done with John McPhee. Celebrity Net Worth explained that he was a person of interest in a murder investigation after his neighbor, American expatriate Gregory Vishal Fowl, was found injured by a gunshot wound. John McAfee tried to seek asylum in Guatemala but was refused. He was arrested again in December 2012 and reportedly in the U.S.
In 2015, he was arrested in Tennessee for DUI and possessing a weapon while drunk. He was killed in 2018 with a wrongful death lawsuit regarding Ful’s murder. Finally, in 2019, John McPhee was convicted for tax evasion. Later, it was revealed that he was living on a boat in international waters to dodge taxes.
With a tornado story like this, there is likely to be more news about John McPhee soon. Keep watching, and tell us in the comments whether this is the biggest true crime you have heard about!