Indictment of Early Bitcoin Investor Roger Ver
Early Bitcoin investor Roger Ver has been indicted by the US Department of Justice (DOJ) on multiple charges, including mail fraud, tax evasion, and filing false tax returns.
Accusations of Tax Evasion Against Roger Ver
The indictment reveals that Ver owned and operated companies like MemoryDealers.com Inc. and Agilestar.com Inc., specializing in selling computer and networking equipment.
- Ver acquired Bitcoin for himself and his companies in 2011, accumulating a significant fortune in the cryptocurrency.
- He allegedly renounced his US citizenship in 2014 through expatriation, obtaining citizenship in St. Kitts and Nevis to evade taxes.
- US law required Ver to disclose and pay taxes on capital gains from his global assets, including Bitcoin, which he held.
US Prosecutors Seeking Extradition of Ver
The indictment states that Ver provided false or misleading information to legal representatives and appraisers, understating the value of his companies and Bitcoin holdings. This led to filing false tax returns that significantly undervalued his assets, thus evading substantial tax obligations.
- Prosecutors claim Ver caused a loss of at least $48 million to the IRS.
- Despite renouncing his US citizenship, Ver was obligated to report and pay taxes on certain distributions, including dividends, from his US-based companies.
- Ver allegedly concealed receipt and sale of Bitcoin held by his businesses, failing to report gains and pay taxes.
Roger Ver in Custody and Facing Extradition
Roger Ver, also known as the “Bitcoin Jesus,” has been arrested in Spain on the charges mentioned.
The US is seeking his extradition to face trial regarding the alleged tax evasion and other charges.
Hot Take: Roger Ver’s Legal Woes in the Cryptocurrency Community
Roger Ver, an early Bitcoin investor, finds himself in legal trouble after being indicted on charges of mail fraud, tax evasion, and filing false tax returns by the US Department of Justice. The accusations stem from his alleged actions to evade taxes by renouncing his US citizenship and undervaluing assets, including Bitcoin holdings, leading to substantial tax losses for the IRS. Ver’s arrest in Spain and the extradition request indicate the serious consequences of tax evasion in the cryptocurrency community.
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