Stay Informed: Roger Ver Charged with Tax Evasion
Roger Ver, an early BTC investor famously known as Bitcoin Jesus, has been charged and arrested by the United States Department of Justice for evading taxes worth up to $50 million.
U.S. Department of Justice Charges Ver
The DOJ recently unsealed an indictment against Ver, accusing him of filing false tax returns, committing mail fraud, and evading taxes between 2011 and 2017 through his companies, MemoryDealers Inc. and Agilestar Inc.
- Ver began purchasing thousands of bitcoins for himself and his companies in 2011.
- He earned the alias Bitcoin Jesus for promoting BTC.
- Ver and his companies acquired around 131,000 BTC by February 2014.
- Ver renounced his U.S. citizenship in 2014 and obtained citizenship in St. Kitts and Nevis.
- The DOJ alleges that Ver provided U.S. authorities with misleading information about the number of bitcoins he owned.
Extradition Process to the U.S.
Ver hired a law firm to handle his expatriation and tax reports. He allegedly aided in filing false tax returns that undervalued his companies and failed to report ownership of bitcoins.
- Ver took possession of 70,000 BTC owned by his companies in 2017.
- He sold a large portion of these bitcoins for cash, totaling $240 million.
- Despite not being a U.S. citizen, Ver was obligated to report the transactions to the IRS and pay taxes.
- The U.S. government will initiate Ver’s extradition process to face trial for the charges.
Conclusion: What’s Next for Crypto Investors?
As a crypto enthusiast, it’s essential to stay informed about legal implications and tax obligations related to your investments for a secure and compliant journey in the crypto sphere. Pay attention to regulatory changes, seek professional advice, and ensure transparency in your financial dealings to avoid legal troubles down the line.
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