A corporate executive in the John McAfee Team, Jimmy Gale Watson has been charged with securities fraud and money laundering for aiding pump-and-dump scams by the SEC. John McAfee was reported to have ended his life in Spain about a year ago but his widow, Janice McAfee disagrees with this report as she is strongly convinced that it was not a suicide case. The United States Securities and Exchange Commission has banned Jimmy Watson from taking part in any commercial or professional security offerings and virtual currency roles and he will pay fines that total $375,000.

According to the SEC, Jimmy is being punished for taking compensation to participate in and promote initial coin offerings that turned out to be pump-and-dump situations. He was first arrested and detained in Texas before being tried for money laundering and securities fraud after U.S. law enforcement discovered that him and McAfee were taking payments and making lump sums of money for promoting pump and dump schemes. Jimmy Watson has also been penalized by the SEC and has been prohibited from any financial service and brokerage programs which also follows fines that total $375,000.

The legal tussle has gone on since Jimmy entered a non-guilty plea bargain in March 2021. The SEC’s final decision was issued in court on 13tg July 2022. When Jimmy was charged, U.S. Attorney, Audrey Strauss explained to the court how Jimmy was using McAfee’s private Twitter account to promote this pump and dump schemes. She stated there was enough proof that the defendant used the Twitter account of Late McAfee to broadcast messages of praise for several cryptocurrency while concealing their self-interest and real intentions. Jimmy could be charged to court for more fraud but, McAfee received a certificate of death following his alleged suicide and the SEC has had their rights for remedy in relation to McAfee’s offences waived.

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