On April 30, the United States Department of Justice made a significant announcement, revealing charges of tax fraud totaling $50 million against Roger Ver, a prominent figure in the early Bitcoin community often referred to as ‘Bitcoin Jesus.’
Roger Ver, renowned for his advocacy of Bitcoin and the creator of Bitcoin Cash, has played a pivotal role in the cryptocurrency space as an early investor and proponent. His portfolio includes investments in various crypto startups such as Bitcoin.com, Blockchain.com, Ripple, BitPay, and Kraken.
The Justice Department’s statement disclosed that Ver had been apprehended in Spain, where authorities executed the arrest based on criminal charges filed in the United States. These charges include allegations of mail fraud, tax evasion, and the submission of false tax returns.
The US government’s accusations against Ver revolve around the assertion that he perpetrated fraud against the Internal Revenue Service (IRS). It is alleged that Ver failed to report Bitcoin and other digital assets held within corporate entities, which amounted to $48 million. These holdings should have been declared as part of an “exit tax.”
According to the indictment, which was unsealed on April 29, Ver purportedly gained control of approximately 70,000 BTC in June 2017. Subsequently, he allegedly sold these holdings later that same year for $240 million, capitalizing on the unprecedented surge in Bitcoin’s value during the historic bull run.
Roger Ver receives what some deem to be appropriate consequences for his actions.
Roger Ver has frequently found himself entangled in controversies throughout his career. One notable incident involves his involvement with the crypto investment platform CoinFlex, which asserted that Ver owed them a substantial sum of $47 million in USD Coin. Additionally, Ver has amassed adversaries within the crypto community, with one prominent figure being Dan Held, the former growth lead at Kraken. Held publicly criticized Ver, accusing him of nearly causing irreparable harm to Bitcoin.
According to Held, Ver’s actions led to a significant rift within the Bitcoin community, effectively sparking what can be described as a “civil war” among its members. Held firmly believes that Ver’s conduct warrants the repercussions he is facing.
This animosity between Ver and Held transcended mere disagreements and became deeply personal. Held alleges that Ver actively sought to undermine his professional reputation and livelihood, going as far as attempting to have him terminated from his position and damaging his personal relationships.
“Don’t expect bad people to do good things”
— Roger Ver (@rogerkver) April 25, 2024
What lies ahead in the unfolding events?
At the time of this publication, Ver had refrained from making any statements on social media concerning the charges levied by the Justice Department.
According to US officials, there are intentions to extradite Ver from Spain to the United States to face trial. However, it is worth noting that Ver renounced his US citizenship back in 2014.
Within the crypto community, there is widespread speculation regarding Ver’s next steps. Some anticipate that he may opt to resolve the case swiftly and transition past the controversy, akin to the actions taken by former Binance CEO Changpeng “CZ” Zhao.
Roger is literally a multi, MULTI billionaire.
I assume he will just settle/plea deal and move on.
Like CZ.
— Altcoin Daily (@AltcoinDailyio) April 30, 2024
