Early investor faces $48 million tax fraud charges over Coin Edition

  • Early Bitcoin investor “Bitcoin Jesus” was arrested in Spain.
  • Facing charges of tax evasion and filing false tax returns.
  • Allegedly owes the IRS at least $48 million in unreported income.

On April 30, 2024, a federal grand jury indicted Roger Ver, an early Bitcoin investor and known as the “Bitcoin Jesus”, on charges of mail fraud and tax evasion. He was arrested in Spain this weekend and the United States seeks to pursue criminal charges.

According to the indictment, Ver was a former California resident who owned two companies that sold computer equipment. He allegedly began purchasing Bitcoin for himself and his company in 2011, while also actively promoting the cryptocurrency.

In 2014, Ver renounced his U.S. citizenship. However, under U.S. law, this requires him to report capital gains and pay an “exit tax” on his assets, including Bitcoin. The indictment states that Ver owned more than 131,000 Bitcoins at the time, each worth approximately $871.

Prosecutors allege that Ver provided false information to law firms and appraisers, causing them to significantly undervalue his companies, and failed to report his personal Bitcoin holdings. They further allege…

The article Bitcoin Jesus Caught: Early Investors Face $48M Tax Fraud Charges appeared first on Coin Edition.

Learn more about coin editions

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *