Roger Ver, also known as “Bitcoin Jesus,” has recently been arrested in Spain on charges of causing a $50 million loss to the IRS. While it is believed that Ver under-reported his assets during his expatriation, some members of the crypto community suspect that there may be deeper reasons behind his arrest.
Crypto News Flash recently published a detailed report on Ver’s arrest, stating that he has been charged with mail fraud, tax evasion, and subscribing to a false tax return. This news has sparked a strong reaction from the crypto community, with many speculating that Ver’s arrest may be related to his outspoken opinions on cryptocurrencies. The US Justice Department has now released more details, revealing Ver’s alleged conscious effort to evade nearly $50 million in taxes.
Ver has a long history in the crypto industry, with reports indicating that he played a significant role in its early development. He is credited with creating the honey badger meme and has invested in several crypto startups. However, his involvement in Bitcoin became controversial in 2017 when he expressed his support for Bitcoin Cash (BCH), which caused him to face backlash from the community.
Looking back at Ver’s early days, it is revealed that he founded two companies, MemoryDealers.com and Agilestar.com, to sell computer parts in California. He was known for his strong anarcho-capitalist beliefs and even spent a short time in prison for selling illegal fireworks. Ver argued that this was a politically motivated lawsuit, as the trade in fireworks was legal in agriculture.
After serving his sentence, Ver moved to Japan in 2005 before eventually settling in St. Kitts and Nevis in 2014. Reports suggest that he started accumulating Bitcoin in 2011 and even distributed some to his companies. By 2014, he owned 131,000 Bitcoins, with 73,000 BTC registered under his companies’ names. At that time, Bitcoin was trading at $871. In 2017, Ver sold most of his Bitcoins for $240 million.
While living in St. Kitts, Ver decided to renounce his US citizenship. To do so, he hired a lawyer to calculate his exit tax and an appraiser to evaluate the value of his company. However, the indictment against him alleges that he provided false information to conceal the true number of Bitcoins he owned, as well as the number owned by his companies. It is reported that he claimed to have given 25,000 Bitcoins to his partner as a gift in 2011.
Some reports suggest that the IRS investigation may have involved blockchain analysis to determine the number of Bitcoins owned by Ver and his companies. This has led many crypto enthusiasts, including Ripple Labs’ CTO David Schwartz, to believe that Ver’s arrest may be motivated by the US authorities’ disapproval of his beliefs. Others speculate that his recent book, titled “Hijacking Bitcoin,” may have triggered his arrest.
In conclusion, Roger Ver’s arrest in Spain on charges of causing a $50 million loss to the IRS has generated significant attention in the crypto community. While Ver is accused of under-reporting his assets, some suspect that his arrest may be linked to his opinions and beliefs. The US Justice Department has provided details on Ver’s alleged efforts to evade taxes, including providing false information about his Bitcoin holdings. The investigation may have involved blockchain analysis, leading some to believe that Ver’s arrest is a result of his controversial stance on cryptocurrencies.