John McAfee on the Run for Tax Fraud

John McAfee on the Run for Tax Fraud

Presidential aspirant and virus software heavyweight, John McAfee, bolts from the US to evade tax fraud charges; will be ‘leaving in exile’ on a boat, given the moniker ‘Freedom Boat’, for two years

I have not paid taxes for eight years and I have made no secret of it.

John McAfee

On Tuesday, McAfee states he is on the run due to felony charges brought about by the Internal Revenue Services. He tells that a Tennessee grand jury will indict him with tax evasion. In a Twitter video, he gives an account of his ordeal saying the allegation brought to him by the Tennessee court is for using cryptocurrencies for wrongdoing.

The four constituents of his 2020 presidential run, and his wife, Janice, is also charged with ‘unspecified’ charges criminal in nature.

McAfee did not divulge his whereabouts, but it is hypothesized, from the photos he tweeted this week, that he might be sailing for Venezuela. He plans to remain on his boat for 24 months.

Anti-Taxation Statements

I’m challenging the agency responsible for fueling our Government’s madness — the IRS. The IRS will not sit idly by. I know this. But I have prepared my entire life for this battle.

John McAfee

During the beginning of January, McAfee tweeted he objects to paying government taxes; saying he is a target for the IRS. He views taxation as illegal, indicating he paid millions of dollars for abysmal services.

For the computer programmer, cryptocurrencies, particularly privacy coins, will sidestep the state and release citizens from ‘the yoke of currency controlled by governments’. With privacy coins, governments cannot collect taxes.

Presidential Aspirations

I am running my campaign in exile on this boat for the duration — I will not allow them to imprison me and shut my voice down, which they will do immediately — Why? I am a flight risk. Obviously, I am in flight

John McAfee

On 22 January 2019, McAfee relays he will release campaign videos from his boat every day while on the run. The computer programmer and McAfee Associates Founder implies that in his self-imposed exile, authorities cannot officially charge him.

McAfee is a vocal cryptocurrency proponent. On 22 November 2018, he advised the community for calm in the face of the bear market.

Related news

Philip Morris To Track Tax Stamps Using Blockchain Technology

Megacorporation Philip Morris announced it is developing a public blockchain platform to track tax stamps on packs of cigarettes. The company is modifying Ethereum, as well as MultiChain's build-your-own-blockchain platform, to create its blockchain.
Ethereum News

Venezuela President Urges Investors To Buy Petro As Citizens Prefer Bitcoin

The president of Venezuela has issued an open call for foreign investors to buy up the country’s notorious state-issued cryptocurrency, despite international sanctions. Maduro ‘Welcomes’ Petro Buyers On April 25, Nicolas Maduro stated that overseas cash was needed to shore up Venezuela’s failing economy. He was speaking during a live statement on messaging platform Periscope, following a common trend of issuing directives and policy updates via live media appearances. On this occasion, Maduro issued a plea to anyone willing to part with hard currency in exchange for Petro cryptocurrency, one of the remaining means by which the long-sanctioned regime is able to finance its operations. “We welcome all those who will invest in finance and banking sectors, and in the cryptocurrency Petro,” he said. As Bitcoinist reported, Petro received a highly sceptical reception when it debuted in 2018. Notionally backed by oil reserves, investigations quickly found its principal supporter – state-backed oil company – had debts multiple times higher than Petro’s total market cap. Many international governments also steered clear, with the U.S. being among the first to legally stop its citizens interacting with Petro. The backlash failed to stop Maduro’s publicity efforts, however, with reports claiming representatives had approached various cryptocurrency exchanges in a bid to gain liquidity for the token. Bitcoin Is Venezuela’s Preferred Cryptocurrency At the same time, Venezuelans themselves have notably voted with their wallets on Petro, instead opting overwhelmingly to purchase Bitcoin. On an almost weekly basis, the country transacts more and more of the largest cryptocurrency, citizens attempting to preserve their wealth in the face of inflation which will likely hit 8 million percent in 2019. As P2P trading platform Localbitcoins sees records shattered, dedicated aid ventures from the cryptocurrency sphere also continue. This week, charity scheme Airdrop Venezuela announced it had raised just over $270,000 in donations for a total of 60,000 beneficiaries. Steve Hanke, the John Hopkins University professor leading the campaign, revealed the figures during an interview with radio station NPR. “This will be a demonstration of how relief agencies all around the world can easily deliver aid and relief to people in need,” he said in light of the previous refusal of the Maduro regime to allow aid from Colombia. You won’t have to drive a pickup truck around filled with cash that you’re giving away or filled with medicine or clothing or food. That’s an inefficient and unsafe way to do things. You’ll have a very safe way to do it. I think it will be the – a – really, a new thing. Elsewhere, the Lightning Network’s Lightning Torch event, which has now completed, raised 0.41 BTC ($2220) for Venezuela. What do you think about Venezuela’s call to buy Petro? Let us know in the comments below! Images via Twitter, Shutterstock, coin.dance The post Venezuela President Urges Investors To Buy Petro As Citizens Prefer Bitcoin appeared first on Bitcoinist.com.
Bitcoinist

Majority of Investors Don’t Know About the Stamp Duty Reserve Tax on British Stocks

New research brings to light the UK’s alarming lack of awareness for the Stamp Duty Reserve Tax (SDRT) charged on British stocks. Currently, investors in UK stocks pay 0.5 per cent on stock transactions over £1000. This tax year alone, the British Government expects to pocket almost £4 billion* through the stamp duty. Yet a recent survey of 2,176 UK residents finds only 19 per cent of Brits are aware they’re taxed in this way on UK stocks. This compares to three quarters (75 per cent), who are familiar with stamp duty on purchasing a house. A shocking 93 per cent do not know how much stamp duty is currently charged on UK stock investments. Three quarters (75 per cent) do not know which countries, outside of the UK, require you to pay stamp duty on stocks. 93 per cent do not know how much stamp duty is currently charged on UK stock investments Iqbal V. Gandham, UK Managing Director at eToro said:  “Stamp duty is the ultimate stealth tax and should be scrapped. British investors have been unknowingly handing over money to the Government through this tax. This needs to stop and it needs to happen now.” When made aware of the stamp duty on British stocks support for abolishing the tax is strong. Of those who responded either support or oppose, over half (57 per cent) support scrapping the tax. Among this group, the primary drivers for abolishing the tax are that it acts as a deterrent to investing (58 per cent), it is an outdated tax (34 per cent) and it doesn’t make sense because other assets aren’t taxed in this way (32 per cent). When asked about the deterrents to investing in UK companies, stamp duty was as big a barrier as Brexit. One fifth (21 per cent) of people said they would be less likely to invest in UK companies knowing they had to pay stamp duty on these stocks compared to 19 per cent of people who said they will be less inclined to invest in British stocks in a post-Brexit world. Iqbal V. Gandham, UK Managing Director at eToro continued:  “Penalising UK investors for choosing to invest in British businesses is madness. Why are we incentivising people to invest money overseas? With continued Brexit uncertainty, now more than ever, we should be supporting investment into UK companies. The UK is in the minority; few other countries profit from their residents investing in local businesses. It’s time to rethink this outdated practice.” The post Majority of Investors Don’t Know About the Stamp Duty Reserve Tax on British Stocks appeared first on The Fintech Times.
The Fintech Times

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.