A prominent early Bitcoin (BTC) investor was arrested in Spain over the weekend on suspicion of evading $50 million worth of U.S. taxes.
Roger Ver, a prominent supporter of Bitcoin Cash (BCH), faces charges including mail fraud, tax evasion, and filing false tax returns, according to a new announcement from the US Department of Justice (DOJ). It is said that there is.
US authorities want to extradite a crypto veteran who has faced multiple lawsuits from other companies in the cryptocurrency space in the past.
Barr, nicknamed “Bitcoin Jesus” for his outspoken praise of BTC from its early days, became a citizen of St. Kitts and Nevis in February 2014, and became a U.S. citizen shortly thereafter. is said to have been abandoned.
The Justice Department's indictment indicates that Ver owned two companies, MemoryDealers.com Inc. and Agilestar.com Inc. Between his personal portfolio and holdings in two companies, the cryptocurrency veteran owned approximately 131,000 Bitcoins as of February 2014 at an average price of $871 per BTC.
The Ministry of Justice explains:
“As a result of his deportation, Mr. Barr is required under U.S. law to file tax returns reporting capital gains from active sales of assets around the world, including Bitcoin, and to report the fair market value of his assets. He was also allegedly required to pay a tax called “exit tax” on those capital gains. ”
Mr. Ver hired a lawyer and an adjuster to help him prepare his tax return for moving overseas, but allegedly provided both with false information to hide the true amount of Bitcoin he owned. There is.
He is said to have acquired 70,000 Bitcoins from two of his companies in 2017, selling tens of thousands of them for about $240 million in cash. The Justice Department said Barr was required to pay taxes on certain distributions from his company, including his dividends, even though he was no longer a U.S. citizen.
The cryptocurrency veteran is said to owe at least $48 million to the U.S. Internal Revenue Service (IRS).
Despite his nickname “Bitcoin Jesus,” Barr eventually grew tired of BTC and switched allegiance to Bitcoin Cash, calling the top crypto asset of 2020 “basically a pyramid scheme.” I called it.
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