Bitcoin Jesus Roger Ver Granted Bail by Spanish Court! 🙌🚀

Roger Ver Released on Bail Amid US Extradition Requests

In a significant legal development, Roger Ver, an early investor in Bitcoin who faces indictment by the US Department of Justice (DOJ) on various charges, including mail fraud and tax evasion, has been granted bail by a Spanish court amidst requests for his extradition back to the US.

Tax Evasion Allegations Regarding Bitcoin Fortune

A recent Bloomberg report reveals that Ver was arrested in Spain in late April, leading to his release on May 17 after posting bail of €150,000 ($163,000). Despite his release, Ver had to surrender his passport, stay in Spain, and appear in court every two days. The prosecution’s subsequent appeal against his release was dismissed two weeks later.

Ver known as “Bitcoin Jesus” for early Bitcoin advocacy
Accused of acquiring Bitcoin as early as 2011
Failed to report capital gains or pay taxes on Bitcoin sales

The US DOJ indictment states that Ver, known as “Bitcoin Jesus,” accumulated a significant fortune in Bitcoin starting from 2011, but allegedly failed to report capital gains or pay taxes on his Bitcoin holdings, despite selling bitcoins worth around €240 million in 2017.

Ver is accused of withholding this information from his accountant, thus evading tax obligations.

Renounced US citizenship in 2014
Required to pay taxes on global capital gains
Allegations of providing false information about holdings

Ver renounced his US citizenship in 2014, becoming a citizen of St. Kitts and Nevis. However, US tax law mandates that he disclose and pay taxes on capital gains from global assets, including his Bitcoin. The indictment also claims that Ver misled legal representatives and appraisers, undervaluing his assets and Bitcoin holdings, leading to the filing of deceptive tax returns and substantial tax evasion.

US Authorities Seeking Extradition

According to reports, US authorities are actively pursuing Ver’s extradition to face charges of tax fraud. The Justice Department alleges that Ver owes at least $48 million in unpaid taxes from his Bitcoin transactions and that his assets were undervalued as a result.

Ver cooperating with US authorities through lawyers
Legal counsel argues arrest was unnecessary
Case reflects increased regulatory scrutiny in crypto

Ver’s lawyer, Jaime Campaner, maintains that Ver has been in communication with US authorities through his lawyers in California, emphasizing his willingness to cooperate. Campaner also suggests that Ver’s arrest was unwarranted given his cooperation. This case highlights the growing regulatory pressures on the cryptocurrency industry as governments worldwide enforce tax and financial regulations more strictly with the increasing popularity and value of digital currencies.