SEC sues John McAfee over promoting cryptocurrency offerings on Twitter

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John McAfee

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The U.S. Securities and Exchange Commission on Monday sued John McAfee, creator of the eponymous anti-virus software, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading.

The regulator, which is seeking a trial by jury, alleged that from at least November 2017 through February 2018, McAfee recommended cryptocurrencies that he was paid to promote, while falsely denying “he was being paid by the issuers.”

“McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation” by recommending at least seven initial coin offerings or ICOs to his Twitter followers, the SEC said.

McAfee’s recommendations were “materially false and misleading,” in that he tried to sell “virtually worthless” cryptocurrency tokens by encouraging investors to buy the securities without disclosing his own holdings, the SEC alleged.

The SEC is seeking to impose on McAfee a civil penalty as well as disgorgement of ill-gotten gains, with interest. The agency also wants to ban him permanently from serving as an officer or director of any listed company or any company that files reports to the agency.

The agency is pursuing charges against Jimmy Gale Watson, Jr., a bodyguard to McAfee, on charges he aided and abetted the sale of the digital currencies, among other allegations.

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Apple Sues Former Recycling Partner Over Theft Of 100,000 Devices: Report

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Apple Inc (NASDAQ: AAPL) is suing waste manager Geep Canada over allegations that the latter resold products meant to be recycled, Apple Insider reports.

What Happened: More than 100,000 Apple devices such as iPhones, iPads, and Apple Watches are alleged to have been stolen by Geep Canada, according to Apple Insider, which cited The Logic (subscription required).

Geep hasn’t denied the theft but filed a suit of its own — claiming it was three employees who purportedly stole the devices without the company’s knowledge.

The Tim Cook-led company has taken the position that the three employees were senior management personnel, Apple Insider reported.

Apple reportedly discovered the theft after it audited Geep and found 18% of 103,845 devices supposed to be meant for recycling active on carrier networks.

Why It Matters: Apple filed its suit in January, while Geep countersued in July. The thefts pertain to the end of 2017 or the beginning of 2018, after which the Cupertino-based tech giant stopped working with the recycler, noted Apple Insider.

In September last year, Geep Canada merged with other companies to form Quantum Lifecycle Partners.

The consumer electronics company is seeking $22.7 million in damages, as well as full recovery of profits made from the resale of the devices, as per Apple Insider.

In July, Apple laid out the target of going carbon neutral across its supply chain within a decade. 

Microsoft Corporation (NASDAQ: AMZN) and Amazon.com, Inc (NASDAQ: AMZN) have pledged to go carbon neutral by 2030 and 2040 respectively.

Price Action: Apple shares traded 0.96% higher at $114.10 in the pre-market session on Monday.

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Apple sues a company that it should recycle iPhones, but ended up secretly selling 100,000 units

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Geep Canada received just over half a million units of iPhones and iPads from Apple for dismantling.

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.


Apple is suing a Canadian company that it hired to recycle old iPhones and iPads but which, according to the Cupertino company’s lawsuit, secretly sold 100,000 units instead.

According to a report from the Apple Insider site, the firm Geep Canada received from Apple just over half a million units of iPhones and iPads for dismantling, however, the technology firm has noted in an audit that 18% of these devices remain On circulation.

According to another report to the site The Verge , Apple assumes that there are many more devices that are being used without connection to mobile networks. The apple firm warns that these devices have not undergone a new safety certification so they could potentially have battery or electrical system defects that could harm users.

Apple’s lawsuit against Geep Canada seeks compensation of no less than $ 22.7 million.

The Canadian brand defends itself against this complaint saying that it was the subject of a theft by some employees who saw the opportunity to use these devices. According to The Logic page, Apple has been aware of these arguments since 2018, but in the lawsuit filed in 2020 it ensures that in any case, the employees involved held positions of power in the recycling company.

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After Math: Sonos sues Google again while Facebook keeps cleaning house

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Engadget

While scoping out a suspected subterranean lake hiding under the Martian soil, scientists stumbled across not one, not two, but three more of them encircling the original. And they’re not puddles by any means. The research team estimates the largest one to measure up to 19 miles across with the others topping out at a few kilometers apiece. But don’t expect to go swimming on the Red Planet in the near future — we’l have to bore through a kilometer of ice to get to it.

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Engadget

The COVID lockdowns have hit the American auto industry hard this year with demand dropping as people stayed home and off the road. However, that apparently is not the case with Tesla which announced last week it had crushed its previous quarterly delivery record by nearly 27,000 vehicles. Over all, the company has shipped some 318,000 automobiles so far in 2020.

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Engadget

If you thought that Trump campaign rallies were rife with COVID, let me introduce you to a little place called an Amazon distribution warehouse. The company announced last week that nearly 20,000 employees had contracted the virus since the start of the year which, out of Amazon’s 1.2 million-strong workforce doesn’t sound that bad. Unless of course you work in one in Minnesota, where the infection rate is more than three times that of the rest of the state.

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Engadget

Even though the president refuses to denounce militants and white supremacists in this country — telling his militant mob of Proud Boys supporters to “stand down and stand by” during Tuesday night’s debates, — Facebook isn’t tolerating their presence on its site. Throughout August and September, the social media platform identified and wiped more than 6,500 pages and groups tied to militant movements and QAnon.

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Apple sues recycling firm for stealing and reselling 100,000 iPhones, iPads and Watches

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Apple is suing former recycling partner GEEP Canada — now a part of Quantum Lifecycle Partners — for allegedly stealing and reselling at least 103,845 iPhones, iPads and Watches that it was hired to disassemble. “At least 11,766 pounds of Apple devices left GEEP’s premises without being destroyed – a fact that GEEP itself confirmed,” reads a portion of Apple’s complaint, as reported by The Logic (via AppleInsider).

Apple sent the recycling firm over 500,000 iPhones, iPads, and Apple Watches between January 2015 and December 2017, according to The Logic’s report. When Apple did an audit, it discovered 18 percent of those devices were still accessing the internet through cellular networks. That 18 percent doesn’t count Apple devices without a cellular radio, so it’s possible an even higher percentage of the gadgets were resold.

Apple seeks to obtain at least $31 million Canadian dollars (roughly $22.7 million USD) from its former partner. The recycling firm denies all wrongdoing, but it doesn’t deny there was a theft — it has reportedly filed a third-party suit claiming three employees stole the devices on their own behalf. Apple disagrees, arguing that these employees were in fact senior management at the recycling firm, according to The Logic.

Apple’s recycling robot

Apple’s recycling robot Daisy can disassemble nine different iPhone models to recover valuable materials.
Image: Apple Newsroom

Last year, humans left behind a record amount of e-waste adding up to 53.6 million metric tons of discarded phones, computers, appliances, and other gadgets. Like other tech companies, Apple has been trying to improve its environmental practices, including an effort to move recycling in-house with its own disassembly robots Daisy and Dave, which are designed to recover iPhone components that traditional recyclers can’t.

However, the company still relies on other partners to recover valuable material from