Roger Keith Ver, also known as "Bitcoin Jesus," has been indicted by the U.S. government on several charges, including mail fraud, tax evasion, and making false statements on tax returns. Here's a detailed breakdown of the case:
Background: Roger Ver, a prominent figure in the crypto community and former U.S. citizen, now resides in Tokyo, Japan, and Saint Kitts and Nevis. He was the CEO of MemoryDealers.com and Agilestar.com, both of which dealt heavily in computer and networking equipment and utilized bitcoin extensively in their operations.
Overview:
Background: Roger Ver, a prominent figure in the crypto community and former U.S. citizen, now resides in Tokyo, Japan, and Saint Kitts and Nevis. He was the CEO of MemoryDealers.com and Agilestar.com, both of which dealt heavily in computer and networking equipment and utilized bitcoin extensively in their operations.
Overview:
- Acquisition of Bitcoins: Ver started acquiring bitcoins in April 2011 and heavily promoted them. He used bitcoins in his business operations, making and receiving payments.
- Expatriation and Tax Implications: In 2014, Ver renounced his U.S. citizenship, which under U.S. tax law, required him to declare the fair market value of all his assets, including bitcoins, as if they were sold the day before his expatriation. This is known as the "exit tax."
- Alleged Fraud: The indictment alleges that Ver engaged in a scheme to defraud the IRS by concealing the true number and value of bitcoins he controlled, thus affecting his tax liabilities. He allegedly manipulated valuations, provided false information to his advisors, and filed inaccurate tax documents to reduce his tax exposure.
- Ver is accused of underreporting the value of his bitcoins, underreporting gains from the sales of his businesses, and providing misleading information about his assets.
- Legal documents suggest that Ver falsified information on his tax returns, affecting the calculation of taxes due when he expatriated. He reported lower gains than the actual values, resulting in significantly less tax than rightfully owed.
