Roger Ver, Dubbed 'Bitcoin Jesus', Faces Allegations of $50 Million Tax Evasion
Roger Ver, a well-known early investor in Bitcoin, was arrested in Spain and is expected to be extradited to the United States on charges of mail fraud, tax evasion, and filing false tax returns.
Because Bitcoin
April 30, 2024
A recent DOJ press release states that Roger Ver, a well-known early investor in Bitcoin, was arrested in Spain and is expected to be extradited to the United States on charges of mail fraud, tax evasion, and filing false tax returns.
The U.S. government alleges that Ver failed to report and pay taxes on capital gains from his Bitcoin holdings after renouncing his U.S. citizenship in 2014. Prosecutors claim Ver provided false information to hide the true value of his Bitcoin assets. The indictment further alleges that Ver concealed income earned in 2017 from the sale of Bitcoins owned by his companies.
According to the indictment, Ver began acquiring a substantial amount of Bitcoin for himself and his businesses in 2011. In 2014, he reportedly obtained citizenship in St. Kitts and Nevis, which under U.S. law required him to file tax returns disclosing capital gains from his worldwide assets, including Bitcoin. The indictment claims Ver and his companies owned approximately 131,000 Bitcoins at that time.
Prosecutors allege Ver used false information to file tax returns that significantly undervalued his assets and omitted his personal Bitcoin holdings. The indictment further accuses Ver of selling a large portion of company-owned Bitcoins in 2017 without reporting the income on his tax return.
The alleged tax loss to the U.S. government is estimated to be over $48 million. It's important to note that an indictment is simply an accusation and Ver is presumed innocent until proven guilty in court.
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