The Department of Justice has accused early cryptocurrency investor Roger Ver, sometimes known as "Bitcoin Jesus," with tax fraud after claiming he avoided paying over $50 million in taxes.
45-year-old Ver is accused of tax evasion and mail fraud in an indictment that was submitted to a federal court in Los Angeles. Following his weekend detention in Spain, the DOJ announced that the indictment has been unsealed and that the US authorities are requesting his extradition.
Because of his early bitcoin investments and propensity to evangelize about them, Ver gained the moniker "Bitcoin Jesus." Ver, who was born in California, gave up his US citizenship in February 2014 in order to become a citizen of St. Kitts and Nevis, a country made up of two islands that is situated between the Atlantic and Caribbean oceans.
Ver allegedly neglected to disclose his ownership of 131,000 Bitcoins in 2014 when he renounced his citizenship, as stated in the indictment. Ver allegedly understated his Bitcoin holdings, dodged taxes, and avoided paying taxes by using this strategy. Currently, the value of Ver's 131,000 Bitcoins is around $7.5 billion, given that the cryptocurrency is selling at over $57,000.
Ver's charge follows the four-month prison term handed to Changpeng Zhao, the founder of cryptocurrency exchange Binance, who entered a guilty plea to money laundering last year. Previously, FTX cryptocurrency exchange CEO Sam Bankman-Fried received a 25-year jail term.
45-year-old Ver is accused of tax evasion and mail fraud in an indictment that was submitted to a federal court in Los Angeles. Following his weekend detention in Spain, the DOJ announced that the indictment has been unsealed and that the US authorities are requesting his extradition.
Because of his early bitcoin investments and propensity to evangelize about them, Ver gained the moniker "Bitcoin Jesus." Ver, who was born in California, gave up his US citizenship in February 2014 in order to become a citizen of St. Kitts and Nevis, a country made up of two islands that is situated between the Atlantic and Caribbean oceans.
Ver allegedly neglected to disclose his ownership of 131,000 Bitcoins in 2014 when he renounced his citizenship, as stated in the indictment. Ver allegedly understated his Bitcoin holdings, dodged taxes, and avoided paying taxes by using this strategy. Currently, the value of Ver's 131,000 Bitcoins is around $7.5 billion, given that the cryptocurrency is selling at over $57,000.
Ver's charge follows the four-month prison term handed to Changpeng Zhao, the founder of cryptocurrency exchange Binance, who entered a guilty plea to money laundering last year. Previously, FTX cryptocurrency exchange CEO Sam Bankman-Fried received a 25-year jail term.
