The U.S. Securities and Exchange Commission (SEC) won a federal court case against Jimmy Gale Watson Jr., a former aide to entrepreneur John McAfee. The Block reports.
Watson Jr. was the second named defendant in a case that began in October 2020 at the SEC’s initiative. The court barred him from selling or promoting digital assets, and ordered him to pay more than $375,000.
Watson Jr. helped his boss promote initial coin offerings on Twitter and did not disclose that he was paid for it.
The SEC alleged that McAfee earned more than $23.1 million from promoting at least seven token sales, in which “digital securities” were sold. In the plaintiff’s view, the entrepreneur’s statements misled investors.
In a separate complaint, the U.S. Department of Justice charged him with tax evasion. McAfee, who was arrested in Spain, described the government’s claims as “exaggerated” and politically motivated.
In June 2021, Spain’s Supreme Court allowed the extradition of McAfee to the United States. Hours later, he was found dead in a prison cell.
McAfee’s widow, Jennifer McAfee doubted the version of his suicide and said that the court’s decision was not a surprise to John. According to her, he was ready for further fight.
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