Category: tax evasion


Creator of Video Downloading Websites Sentenced to Prison in US — Over $1 Million in Cryptocurrency Seized


Creator of Video Downloading Websites Sentenced to Prison in US — Over $1 Million in Cryptocurrency SeizedThe U.S. has sentenced a creator of video streaming and downloading websites to prison for 12 months and one day. The feds also seized $3.9 million from him, including more than $1 million in cryptocurrency. Man Sentenced to Jail for Copyright Infringement and Tax Evasion, His Cryptocurrency Seized The U.S. Department of Justice (DOJ) announced […]


Korean Government Confiscates $47 Million in Crypto From Tax Evaders


Korean Government Confiscates $47 Million in Crypto From Tax EvadersSouth Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders in Greater Seoul Area More than 53 billion Korean won ($47 million) in crypto […]


‘I have nothing’: Imprisoned John McAfee claims his crypto fortune is gone


John McAfee asserted in an extradition hearing in Spain that the tax evasion charges aimed against him are politically motivated.

Software antivirus pioneer John McAfee has told his one million Twitter followers that his entire crypto fortune is gone — although he concedes not everyone will believe he’s telling the truth.

The McAfee antivirus founder has been behind bars in Spain since October 2020 — when he was arrested for tax evasion — but that hasn’t stopped him from posting on Twitter on a near-daily basis.

The 76-year-old tweeted earlier today that “I have nothing. Yet, I regret nothing,” and noted that:

“The US believes I have hidden crypto. I wish I did but it has dissolved through the many hands of Team McAfee (your belief is not required), and my remaining assets are all seized. My friends evaporated through fear of association.”

The U.S. government is currently seeking McAfee’s extradition, with a ruling set to come from Spanish courts in the coming days.

McAfee has a litany of charges aimed against him, including the alleged operation of two “pump and dump” related crypto scams that duped investors out of $13 million.

If extradited, McAfee will face court on charges for evading taxes between 2014 and 2018, after he failed to report income from multiple revenue streams such as crypto gains, paid crypto promotions, consultancy work, and selling the rights to his life-story documentary.

McAfee’s life behind bars appears to be one of contemplation, as he regularly tweets messages with tones that switch between sorrow, acceptance for his circumstances, mixed in with sparks of aggression towards the U.S. governing bodies.

In the June 9 tweet, he notes that “after uncountable lawsuits and the reach of the FED's I now have nothing. But inside these prison bars I have never felt more free. The things you believe you own, in reality own you.”

It is a stark contrast to McAfee’s earlier years in which his net worth grew to $100 million from his successful anti-virus software firm. McAfee used to own a mansion worth more than $5 million in Colorado springs, and even lived on a luxury yacht out in Dominican Republic waters, which he dubbed a “freedom boat.”

According to the June 2020 indictment from the Justice Department’s Tax Division and Tennessee prosecutors, McAfee faces a minimum of five years on each count of tax evasion and a one-year minimum on each count of willful failure to file a tax return.

Given his age, the serial entrepreneur is likely to spend the remainder of his life behind bars if found guilty.

McAfee spoke at Spanish High Courts this week during the first hearing of his extradition trial and asserted that charges from U.S. governing bodies are politically motivated due to his two attempts to run as a Libertarian Party candidate in the U.S. presidential elections. He says he drew the IRS's attention in 2018 when:

"I also announced I would target the IRS and its corruption, and two months later the IRS filed charged against me."

Spanish prosecutor, Carlos Bautista rejected this claim and described McAfee as a “tax rebel, nothing else. A millionaire who doesn't want to pay taxes."


National Court of Spain Suspends John McAfee Extradition Hearing


McAfeeThe National Court in Spain has suspended the hearing destined to deal with the extradition request that John McAfee, the well known cryptocurrency influencer, has pending for its tax-related crimes in the U.S. The entrepreneur was apprehended in October last year in the El Prat Airport where he was going to take a flight. No […]


Binance Extends Blockade of Zimbabwean Crypto Users to Include Non-Resident Traders


Malta-based cryptocurrency exchange, Binance, has reportedly extended its blockade of Zimbabwean users to include non-resident citizens. As a result of the new measures, all Zimbabwean nationals are now precluded from using the Binance trading platform. Zimbabwean Nationals Blocked Prior to the introduction of this new measure, Binance apparently allowed Zimbabwean nationals with non-Zimbabwean residential addresses […]


US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS


US Treasury Unveils Biden's Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRSThe U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS. Treasury […]


South Korean City Threatens to Seize Cryptos From Tax Evaders


South Korean City Threatens to Seize Cryptos From Tax EvadersCrypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, […]


South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass Taxation


South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass TaxationSouth Korean authorities seem to be focusing on strengthening measures to combat tax evasion across the nation. The country’s tax watchdog profiled thousands of evaders that relied on cryptocurrencies to hide assets worth billions of Korean won. Evaders Hid a Total of $32.24 Million in Assets Per the Korea Herald, the National Tax Service of […]



Crypto Founder Faces 10 Years in Prison Over Millions of Dollars in Exit Scam Without Paying Taxes


Crypto Founder Faces 10 Years in Prison Over Millions of Dollars in Exit Scam Without Paying TaxesA cryptocurrency founder has been arrested and is facing up to 10 years imprisonment for tax evasion after running an exit scam. He allegedly made millions of dollars from his cryptocurrency and used an elaborate scheme to avoid paying taxes. Crypto Founder Exit Scams, Caught for Tax Evasion The U.S. Department of Justice (DOJ) announced […]

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$11 Trillion Offshore Assets Uncovered After 100 Countries Share Information on 84 Million Bank Accounts


$11 Trillion Offshore Assets Uncovered After 100 Countries Share Information on 84 Million Bank AccountsGovernments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 million bank accounts. The Organisation for Economic Co-operation and Development (OECD) said on Tuesday that […]

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Speculation Rife as User Pays a Second $2.6 Million Fee in Ether Transaction


Speculation Rife as User Pays a Second $2.6 Million Fee in Ether TransactionHistory repeated itself on Thursday, after the Ethereum blockchain processed another transfer with fees of $2.6 million – the second such unusual, record-fee transaction in 24 hours. A user sent 350 ether (ETH), worth about $86,400 and paid 10,668 ETH, or $2.6 million, in transaction fees. The latest transaction was mined on block 10241999 by […]

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Hyperbitcoinization: Visions of Bitcoin Fueling the Post Covid-19 Shadow Economy


Hyperbitcoinization: Visions of Bitcoin Fueling the Post Covid-19 Shadow EconomyWith the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in […]

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France’s Social Media Stalking Points to the Violence of Fiat, Consent of Crypto


France's Social Media Stalking Points to the Violence of Fiat, Consent of CryptoFrance will soon be monitoring social media accounts to catch suspected tax evaders. The endeavor could label anyone as suspicious who so much as posts a “taxation is theft” meme or a poses with a nice car. The country’s budget minister, Gérald Darmanin, called the court-approved experiment ‘one more tool to fight fraud.’ Exemplified by […]

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Cryptocurrency Is Providing a Lucrative New Revenue Stream for Governments


Cryptocurrency: New Lucrative Income Source for GovernmentsCryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and […]

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Romania Imposes 10% Tax on Cryptocurrency Earnings


Romania Imposes 10% Tax on Cryptocurrency EarningsRomania has amended its tax laws, allowing it to start taxing gains from bitcoin investments at a rate of 10 percent. The improved fiscal code legislation categorizes earnings generated from buying and selling cryptocurrencies as “income from other sources” and therefore subject to income tax, local media reports. Also read: Falcon Private Bank Launches Crypto Wallet […]

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Bahamas Releases Discussion Paper on Crypto-Asset Regulation


Bahamas Releases Discussion Paper on Cryptoassets RegulationThe Central Bank of The Bahamas (CBOB) has released a discussion paper proposing how it intends to regulate digital assets. This includes initial coin offerings as part of efforts to eliminate the alleged threat of tax evasion, fraud and money laundering. However, when regulation eventually comes, it is likely that only a state-issued cryptocurrency will […]

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Wendy McElroy: Does Your Money Serve the State or You?


Does Your Money Serve the State or You?The Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 9, Part 4 Does Your Money Serve the State or You? The State, in short, subjects people, whereas Society associates them voluntarily. – Felix Morley Two simple litmus tests determine whether money serves the state (organized force) or whether it serves […]

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