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US Department of Justice Announces Criminal Charges Against Roger Ver
The US Department of Justice recently announced criminal charges against Roger Ver, a prominent figure in the cryptocurrency space. The charges brought against Ver include mail fraud, tax evasion, and filing false tax returns. These allegations have serious implications and have led to Ver’s arrest.
Mail Fraud Charges and Arrest
The mail fraud charges against Ver are related to the delivery of forms to three IRS addresses. Ver’s arrest took place in Spain, where he was detained by local law enforcement. The United States is currently seeking his extradition to face trial for these criminal offenses.
Bitcoin Holdings and Tax Evasion
According to the DOJ, Ver and his companies held a significant amount of Bitcoin in 2014. Specifically, 131,000 BTC valued at $871 each. His companies, MemoryDealers and Agilestar, held approximately 73,000 of the total Bitcoin. The allegations of tax evasion stem from Ver renouncing his US citizenship in 2014 and subsequently providing false information about his Bitcoin holdings to tax authorities.
The DOJ claims that Ver undervalued his companies’ Bitcoin holdings with the assistance of a law firm and an appraiser, leading to a substantial tax loss for the IRS. Furthermore, he allegedly failed to report gains from the sale of 70,000 BTC in 2017, resulting in a significant tax evasion scheme.
Implications of the Allegations
Ver’s alleged actions have had severe consequences, causing the IRS a loss of at least $48 million. Despite no longer being a US citizen at the time of the sales, he is accused of violating tax laws pertaining to US-based corporations. The magnitude of these charges underscores the importance of complying with tax regulations and the repercussions of failing to do so.
As this case unfolds, it serves as a cautionary tale for individuals and companies operating in the cryptocurrency space. The legal ramifications of non-compliance with tax laws can be severe, as demonstrated by the charges brought against Roger Ver.
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