According to an indictment revealed by the U.S. Department of Justice, Roger Ver, an early Bitcoin investor, has been arrested in Spain for tax evasion.
Tl;dr
- Ver faces charges of property fraud and taxes.
- In 2014, he renounced his U.S. citizenship and became a citizen of Saint Kitts and Nevis.
- He personally held around 204,000 bitcoins through his businesses.
- Ver is accused of hiding accounts from the IRS and concealing bitcoin sales in 2017.
Serious Accusations Against Roger Ver
According to a U.S. Department of Justice (DOJ) accusation, the influential Roger Ver, also known as “Bitcoin Jesus,” allegedly violated the law regarding his cryptocurrency assets and tax obligations.
Expatriate Suspected of Tax Fraud
In February 2014, Ver renounced his U.S. citizenship and obtained citizenship in Saint Kitts and Nevis, but U.S. law still required him to declare the fair market value of his assets. He was also obligated to report his capital gains, including those generated by his bitcoin portfolio.
Missing Declarations and Hidden Sales
Ver, known for advocating for bitcoin from the early days, held around “131,000 bitcoins personally and 73,000 through MemoryDealers.com Inc. and Agilestar.com Inc.”, two U.S.-based companies subject to U.S. law. However, the DOJ accuses Ver of selling a significant portion of his bitcoins in 2017 without declaring the profits from these sales, despite his estimated tax evasion of over $240 million.
An Unresolved Case
Furthermore, it is alleged that Ver intentionally hid accounts from the IRS and concealed the profits from these bitcoin sales, resulting in a hefty tax bill of over $48 million. Following his arrest in Europe, the U.S. government is now seeking extradition to bring him to trial in the U.S.