Key takeaways:
- Roger Ver, dubbed ‘Bitcoin Jesus,’ indicted for tax fraud by the DOJ
- The charges allege Ver failed to pay capital gains on hundreds of millions from bitcoin sales in 2017
The United States Department of Justice (DoJ) has brought charges against prominent crypto figure Roger Ver, also known as Bitcoin Jesus, alleging tax evasion amounting to nearly $50 million.
According to the recently unsealed indictment, Ver is accused of orchestrating a scheme to defraud the United States Department of the Treasury from at least October 2012 to December 2018.
The charges stem from Ver’s alleged failure to report capital gains on the sale of Bitcoin and other assets, resulting in a purported $48 million evasion of taxes owed to the Internal Revenue Service (IRS).
Ver, who gained notoriety as an early Bitcoin investor, has a history of legal troubles. In 2002, he was sentenced to 10 months in prison for selling explosives on eBay, before relocating to Japan in 2006.
The DoJ claims that Ver provided false or misleading information to conceal the true extent of his assets, including approximately 73,000 bitcoins owned by him and his companies.
The indictment, filed on February 15 and unsealed on April 29, alleges that Ver gained control of around 70,000 BTC in June 2017, before the notable bull run, and subsequently sold many of them for $240 million. U.S. officials intend to extradite Ver from Spain to face trial in the United States.
Ver’s involvement in Bitcoin dates back to its early days, earning him the nickname “Bitcoin Jesus” for his advocacy and promotion of the cryptocurrency. However, he later shifted his focus to promoting the hard fork Bitcoin Cash, claiming it to be the true Bitcoin.
The charges against Ver underscore the scrutiny faced by prominent figures in the crypto space and highlight the importance of compliance with tax laws and regulations.
As the crypto industry continues to evolve, regulatory authorities are increasingly vigilant in enforcing legal standards to ensure transparency and accountability.
Ver’s case serves as a reminder of the potential legal consequences for individuals who engage in fraudulent activities or fail to meet their tax obligations in the crypto sphere. As the legal proceedings unfold, the outcome of Ver’s case will be closely watched by the crypto community and regulatory authorities alike.
