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Bitcoin investor Roger Ver's indictment reveals alleged $48 million IRS loss.
Roger Ver, the founder of Bitcoin Cash and a public figure known as “Bitcoin Jesus,” was arrested in Spain on charges of mail fraud, tax evasion, and filing false tax returns. Ver is facing extradition to the US to stand trial.
According to the US Department of Justice (DOJ), the indictment was unsealed yesterday and accuses Ver of engaging in fraudulent activities related to his companies and personal Bitcoin (BTC) holdings.
Ver’s indictment details his alleged misconduct starting in 2011, involving his companies MemoryDealers.com Inc. and Agilestar.com Inc. The charges state that after renouncing his US citizenship in 2014, Ver failed to report capital gains and pay the required exit tax on his substantial Bitcoin assets. By 2014, Ver and his companies reportedly owned about 131,000 BTC, valued at approximately $871 each at the time.
The indictment further alleges that Ver provided false information to a law firm and an appraiser, leading to the filing of tax returns that undervalued his companies and omitted his personal Bitcoin ownership. In 2017, Ver allegedly sold around 70,000 bitcoins for approximately $240 million without reporting the gains or paying taxes on them. The IRS claims a loss of at least $48 million due to Ver’s actions.
Stuart M. Goldberg of the Justice Department’s Tax Division and US Attorney Martin Estrada announced the charges, with the IRS Criminal Investigation’s cybercrimes unit handling the investigation. The case is being prosecuted by Assistant Chief Matthew J. Kluge, Trial Attorney Peter J. Anthony, and Assistant U.S. Attorney James C. Hughes.
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