BREAKING: ‘Bitcoin Jesus’ Roger Ver Arrested, Accused Of Orchestrating $48M Tax Scandal

In a major growth throughout the cryptocurrency group, Roger Ver, an early investor in Bitcoin, has been indicted by the US Division of Justice (DOJ) on a number of costs, together with mail fraud, tax evasion, and submitting false tax returns. 

Roger Ver’s Alleged Tax Evasion Unveiled

In accordance with the indictment, Ver owned and operated corporations reminiscent of MemoryDealers.com Inc. and Agilestar.com Inc., which specialised in promoting laptop and networking tools. 

Ver is accused of buying Bitcoin for himself and his corporations in 2011, amassing a major fortune within the cryptocurrency.

To evade taxes, Ver allegedly renounced his US citizenship in 2014 by way of a course of generally known as expatriation, subsequently acquiring citizenship in St. Kitts and Nevis. Nonetheless, US regulation required him to reveal and pay taxes on capital features from his world belongings, together with the Bitcoin he held.

US Prosecutors Pursue Extradition 

The indictment additional alleges that Ver supplied false or deceptive data to his authorized representatives and appraisers, understating the worth of his corporations and Bitcoin holdings. Consequently, he’s accused of submitting false tax returns that considerably undervalued his belongings, evading substantial tax obligations.

Prosecutors declare that Roger Ver’s actions precipitated a lack of not less than $48 million to the IRS. Regardless of not being a US citizen, he was legally obligated to report and pay taxes on sure distributions, together with dividends, from his US-based corporations. 

Nonetheless, Ver allegedly hid his receipt and sale of Bitcoin held by his companies, failing to report the related features and pay the required taxes.

Roger Ver, the “Bitcoin Jesus,” has been taken into custody in Spain, the place he was arrested on the above costs. Because of this, the US is searching for his extradition to face trial. 

Featured picture from Bloomberg, chart from TradingView.com