‘Bitcoin Jesus’ arrested in Spain over alleged $48M tax evasion

Early Bitcoin investor Roger Ver, known as ‘Bitcoin Jesus,’ faces U.S. charges for evading $48 million in taxes, sparking a legal battle

An early Bitcoin adopter Roger Ver, famously dubbed “Bitcoin Jesus,” finds himself in legal turmoil after being apprehended in Spain on allegations of evading taxes worth at least $48 million, as confirmed by the U.S. Department of Justice.

Ver, 45, is accused of mail fraud and tax evasion.

The charges are laid out in an indictment filed in a federal court in Los Angeles, unsealed following his recent arrest in Spain.

Ver’s legal counsel, Bryan Skarlatos, expressed shock and disappointment at the sudden turn of events, asserting Ver’s reliance on tax professionals and his intention to fulfill U.S. tax obligations.

Ver’s journey in the cryptocurrency realm began in 2011. He amassed bitcoins and fervently advocated for the digital currency, earning him the moniker “Bitcoin Jesus.”

However, his 2014 decision to renounce U.S. citizenship in favor of citizenship in St. Kitts and Nevis had significant tax implications.

Upon renunciation, Ver faced tax liabilities due to the treatment of his assets as sold at fair market value, a maneuver referred to as a “constructive sale” under federal tax law.

Prosecutors allege that Ver, along with his companies MemoryDealers.com and Agilestar.com, misrepresented the extent of their cryptocurrency holdings to legal advisors and provided misleading information during the process of tax preparation and appraisal.

Source: Newsroom