As a long-term crypto investor and follower of the industry, I find the news about Roger Ver’s tax evasion charges quite disheartening. Ver was an early Bitcoin adopter and played a significant role in promoting its adoption and growth. His alias, Bitcoin Jesus, is a testament to his influence within the community.
The US Department of Justice (DOJ) has taken action against Roger Ver, a prominent early Bitcoin investor referred to as “Bitcoin Jesus.” He is currently in custody on allegations of tax evasion amounting to approximately $50 million.
Based on a public announcement, the Department of Justice unveiled an indictment against Ver on April 29, subsequently securing an arrest warrant for him while he was in Spain over the weekend.
U.S. DOJ Charges Ver for Tax Evasion
The Department of Justice’s accusation claimed that Ver falsified tax returns, committed mail fraud, and engaged in tax evasion between the years 2011 and 2017, using his businesses, MemoryDealers Inc. and Agilestar Inc., which specialized in computer and networking equipment, as the means to carry out these illicit activities by mail.
As a dedicated researcher exploring the nascent world of digital currencies in 2011, I made the decision to invest heavily in Bitcoins (BTC), both personally and for my firms. Simultaneously, I gained recognition within this community for advocating for Bitcoin, henceforth earning me the moniker “Bitcoin Jesus.”
By February 2014, Ver and his businesses had amassed around 131,000 Bitcoins through purchases on various crypto exchanges at an average price of about $871 per Bitcoin. Approximately 73,000 of these Bitcoins were reportedly owned by MemoryDealers and Agilestar, while the remaining coins belonged to Ver himself.
In the same year, Ver relinquished his American citizenship through expatriation and acquired a new one in the Caribbean nation St. Kitts and Nevis. The Department of Justice mandated that Ver file tax returns reporting capital gains from the sale of his assets, including his bitcoins. Moreover, he was supposed to declare the market value of his possessions and pay an exit tax on the capital gains.
Yet, according to reports, Ver is suspected of giving false information to US officials regarding the quantity of Bitcoins he possessed.
Ver to Be Extradited to the U.S.
As a crypto investor, I can tell you that Bitcoin Jesus reportedly brought on board an unnamed legal team and an appraiser to manage his expatriation process and assess the worth of MemoryDealers and Agilestar. However, it is alleged that he collaborated with these professionals in submitting falsified tax returns that underrepresented the true value of his companies. Contrary to earlier reports, there’s no evidence suggesting that Ver personally owned any bitcoins.
As a researcher, I’ve come across an intriguing allegation regarding a person named Ver. In 2017, he reportedly obtained control over approximately 70,000 Bitcoins that belonged to his businesses. He then sold a significant portion of these coins for around $240 million in cash. The U.S. Department of Justice (DOJ) asserted that despite not being an American citizen, Ver was required to report these transactions to the Internal Revenue Service (IRS) and pay taxes on his companies’ dividends since they were still U.S.-based corporations. However, contrary to this obligation, Ver neglected to inform his accountant about these gains.
The U.S. authorities are about to initiate the extradition procedure for Ver, who is accused of wrongdoing and will be brought to the United States to stand trial.
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2024-05-01 23:20