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The creator off McAfee computer security software faces charges he cashed in on a "pump-and-dump" scheme, promoting cryptocurrencies on Twitter to drive up their value.
John McAfee, founder of the antivirus firm that bears his name, and Jimmy Watson face charges of conspiracy, fraud, and money laundering in connection with schemes to trick cryptocurrency investors, according to an indictment unsealed by the US Department of Justice.
<p>"McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception," US attorney Audrey Strauss said in a release.</p><p>McAfee, Watson, and other members of their "cryptocurrency team"are accused of raking in millions of dollars from investors they duped, according to Strauss.</p><p>Pump-and-dump schemes typically involve over-hyping the value of stocks or, in this case cryptocurrency, by holders so that they can be sold at artificially high prices.</p><p>"McAfee and Watson used social media to perpetrate an age-old pump-and-dump scheme," FBI assistant director William Sweeney said.</p><p>"When engaging in illegal activity, simply finding new ways to carry out old tricks won't produce different results."</p><p>McAfee and Watson also used Twitter to promote digital tokens on behalf of initial coin offerings without disclosing they were being paid for their efforts by the startups, according to the indictment.</p><p>McAfee, 75, is in custody in Spain pending a decision on his extradition to the United States where he is wanted for tax evasion.</p><p>He has been held at a prison near Barcelona since he was arrested in the Spanish city in October just as he was about to board a flight to Istanbul.</p><p>The arrest followed his indictment in June in the United States for tax evasion and wilful failure to file tax returns between 2014 and 2018, despite earning millions from consulting work, cryptocurrencies and selling the rights to his life story.</p><p>Since making a fortune with his eponymous antivirus software in the 1980s, McAfee has become a self-styled cryptocurrency guru.</p><p>He has one million followers on Twitter, where he describes himself as a "lover of women, adventure and mystery".</p><p>McAfee made headlines after he moved to Belize and his neighbor in the Central American country was mysteriously murdered in 2012, a crime that remains unsolved. </p>
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Chamber of Commerce to resume donations to Republicans who voted for Trump's 'Big Lie'
March 05, 2021
The U.S. Chamber of Commerce announced on Friday that it would resume donations to Republicans who pushed Donald Trump's "Big Lie" about election fraud by voting to overturn the results of the 2020 presidential election.
The same night as the fatal January 6th insurrection, 121 House Republicans and 6 Senate Republicans sided with the insurrectionists and voted to overturn the election results.
<p>But a new <a href="https://www.uschamber.com/issue-brief/memo-political-support-candidates-light-of-events-of-january-6th" target="_blank">memo</a> issued by Ashlee Rich Stephenson, the vice president and national political director for the Chamber says donations can resume for Republicans who voted to overturn the will of the voters.</p><p>"In the aftermath of the events of January 6, we announced that we would review the totality of actions of members. And take that review into consideration with respect to our PAC giving and political program," Stephenson explained. </p><p>"We do not believe it is appropriate to judge members of Congress solely based on their votes on the electoral certification. There is a meaningful difference between a member of Congress who voted no on the question of certifying the votes of certain states and those who engaged and continue to engage in repeated actions that undermine the legitimacy of our elections and institution," Stephenson announced. "For example, casting a vote is different than organizing the rally of January 6th or continuing to push debunked conspiracy theories. We will take into consideration actions such as these and future conduct that erodes our democratic institutions."</p><p>Prior to joining the Chamber of Commerce, Stephenson was the polling director for Rudy Giuliani's 2008 presidential campaign. The former New York City mayor was one of the biggest proponents of Trump's conspiracy theories about election fraud. </p>
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<div style="margin:1em 0">@USChamber The memo written by @USChamber's National Political Director, @ashleewrich, argues that only members of… https://t.co/nfHmWkjcwA</div> — Judd Legum (@Judd Legum)
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Writing in the Washington Post this Friday Greg Sargent, contends that if there's anything the minimum wage debate has revealed, it's how "extraordinarily prevalent low-wage labor is in the United States today."
Citing a Brookings Institution analysis that found approximately 24 million people would see their wages rise if the federal minimum wage were lifted to $15 per hour by 2025, Sargent write that it's a stark reminder of how many Americans stand to be left behind if the minimum wage hike is not included in President Biden's economic rescue bill.
<p>"Of <a href="https://www.washingtonpost.com/context/brookings-institution-minimum-wage-study/c1c7a8a3-838f-415f-a81f-f5ecdaf10613/?itid=lk_inline_manual_20" rel="noopener noreferrer" target="_blank">the 23.8 million people</a> whose 2019 wages would be lifted with a federal hike, around 12.4 million reside in the 22 states with two Republican senators, Brookings found," Sargent writes. "That number is more significant than it seems, since those states tend to be less populous."</p><p>While it's true that some red states have raised their minimum wage, none (except Florida) are on track to $15, according to Sargent. "That means a lot of people in red states that have raised their minimum wages will still get left behind by Congress's failure."</p><p>"It's true that some progressives are <a href="https://www.washingtonpost.com/nation/2021/02/26/senate-parliamentarian-minimum-wage-overrule/?itid=lk_inline_manual_36" target="_blank">angry</a> at the Democratic leadership over this failure: They want Democrats to get around the Senate parliamentarian's <a href="https://www.washingtonpost.com/us-policy/2021/02/25/minimum-wage-increase-imperiled-covid-relief-bill-by-senate-officials-ruling/?itid=lk_inline_manual_36" target="_blank">ruling</a> that the hike can't pass via a simple majority by reconciliation," Sargent continues. "But even if they did, there aren't 50 Democratic votes to pass it."</p><p>Read the full op-ed over at <a href="https://www.washingtonpost.com/opinions/2021/03/03/minimum-wage-hurt-red-states-brookings/" target="_blank">The Washington Post</a>. </p>
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