Roger Ver, also known as “Bitcoin Jesus,” has been arrested in Spain and charged with tax fraud. The U.S. Department of Justice has unsealed an indictment charging him with mail fraud, tax evasion, and filing false tax returns. Ver was arrested in Spain based on the U.S. criminal charges, and the next steps involve the U.S. applying to extradite him to stand trial in America. Authorities estimate that Ver is alleged to have caused a loss to the Internal Revenue Service (IRS) of at least $48 million. The IRS Criminal Investigation’s cybercrimes unit is still investigating the case. Ver, who renounced his U.S. citizenship and obtained citizenship in St. Kitts and Nevis, is originally from Santa Clara, California, and owned several U.S.-listed businesses.
Ver is accused of selling tens of thousands of bitcoins on cryptocurrency exchanges for approximately $240 million in cash in November 2017. Although he had already given up his U.S. citizenship, he was still legally required to report to the IRS and pay tax on certain distributions such as dividends from his U.S. corporations, MemoryDealers and Agilestar. The U.S. Department of Justice stated that Ver, under U.S. law, was required to file tax returns reporting capital gains from the sale of his worldwide assets, including the Bitcoins, and pay an “exit tax” on capital gains. Ver allegedly began acquiring Bitcoins for himself and his companies in 2011, and his actions have led to these serious charges against him.
The U.S. authorities are applying to extradite Roger Ver to the United States to stand trial for the charges brought against him. The case stems from allegations of mail fraud, tax evasion, and filing false tax returns, and it is estimated that Ver caused a substantial loss to the IRS. Ver’s decision to renounce his U.S. citizenship and obtain citizenship in St. Kitts and Nevis has not absolved him from the obligation to report income and pay taxes on his U.S.-based businesses and other assets. The indictment against Ver details the substantial profits he made from selling bitcoins in 2017, which should have been reported to the IRS and subject to taxation.
Roger Ver, widely known in the cryptocurrency community as “Bitcoin Jesus,” is facing serious legal challenges as a result of alleged tax fraud in the United States. Ver’s actions, including selling tens of thousands of bitcoins for substantial profits, have caught the attention of law enforcement authorities. The U.S. Department of Justice has taken action against Ver, who is accused of failing to comply with U.S. tax laws despite renouncing his citizenship. The case serves as a reminder of the importance of fulfilling tax obligations regardless of citizenship status and highlights the consequences of failing to do so.
The indictment against Roger Ver outlines the charges of mail fraud, tax evasion, and filing false tax returns, all stemming from his alleged actions related to cryptocurrency transactions. Ver’s decision to renounce his U.S. citizenship and obtain citizenship in St. Kitts and Nevis has not shielded him from U.S. legal authorities seeking accountability for his actions. The indictment details Ver’s sale of bitcoins for substantial cash profits, which should have been reported and taxed accordingly under U.S. law. The case underscores the importance of complying with tax requirements and the potential consequences of failing to do so, even for high-profile individuals in the cryptocurrency space.
Roger Ver’s arrest in Spain and the charges brought against him by the U.S. Department of Justice serve as a stark reminder of the consequences of tax fraud and the importance of meeting tax obligations. Despite his renunciation of U.S. citizenship and acquisition of citizenship in St. Kitts and Nevis, Ver is still subject to U.S. laws regarding taxation, as evidenced by the indictment against him. The case sheds light on the challenges faced by individuals engaged in cryptocurrency transactions and the need to adhere to regulatory and tax requirements. Ver’s alleged actions highlight the risks associated with non-compliance with tax laws and the potential legal ramifications that can follow.
