On April 30, the United States Department of Justice unveiled $50 million in tax fraud charges against Roger Ver, an early adopter of Bitcoin widely known as ‘Bitcoin Jesus.’
Ver, a fervent supporter of Bitcoin and the mastermind behind Bitcoin Cash, has a track record of investments in various cryptocurrency ventures, including Bitcoin.com, Blockchain.com, Ripple, BitPay, and Kraken.
The Justice Department disclosed that Ver was apprehended in Spain on charges brought forth in the United States, encompassing allegations of mail fraud, tax evasion, and the submission of falsified tax documents.
Accusations from the US government assert that Ver deceived the Internal Revenue Service (IRS), withholding information on Bitcoin and other digital assets held within corporate entities, amounting to $48 million, which ought to have been reported as an “exit tax.”
An indictment unsealed on April 29 details Ver’s purported acquisition of approximately 70,000 BTC in June 2017, subsequently liquidating them later that year for $240 million during the notable surge in cryptocurrency valuations.
Roger Ver Gets What ‘He Deserves’
Roger Ver’s journey has been rife with controversy, and his involvement in a dispute with crypto investment platform CoinFlex further adds to his tumultuous narrative. CoinFlex alleged that Ver owed them a staggering $47 million in USD Coin, amplifying the intrigue surrounding his financial dealings.
Moreover, Ver has garnered adversaries along the way, notably Bitcoiner Dan Held, the former growth lead at Kraken, who openly criticized Ver for his perceived role in what he referred to as the near destruction of Bitcoin.
Held didn’t mince words, expressing his sentiments on X, stating, “He misaligned expectations around Bitcoin so much that it led to a civil war. He deserves everything that he’s about to get.”
Held’s animosity towards Ver extends beyond mere professional disagreement; it cuts deep on a personal level.
“Roger attacked my livelihood by trying to get me fired, called up others to hurt my relationships, and attacked my reputation,” Held asserted, shedding light on the intensely personal dimension of their feud.
What Happens Next?
At the time of publication, Ver has maintained silence on social media concerning the charges brought forth by the Justice Department.
According to US officials, extradition proceedings are underway to bring Ver from Spain to the United States for trial. Notably, Ver renounced his US citizenship in 2014, adding a layer of complexity to the legal proceedings.
Meanwhile, within the crypto community, speculation runs rampant about Ver’s next steps. Many anticipate that he may opt for a settlement and endeavor to put the case behind him, drawing parallels to the course taken by former Binance CEO Changpeng “CZ” Zhao following his own controversy.
