Roger Ver arrested in Spain
Roger Ver, an early investor in Bitcoin, was arrested in Spain on U.S. Department of Justice charges including mail fraud, tax evasion and filing false tax returns. The U.S. plans to seek Ver's extradition for trial.
Investments in Bitcoin and lawsuits
Known for his investments in Bitcoin, by 2014 Ver had acquired approximately 131,000 Bitcoins worth approximately $240 million through his companies, MemoryDealers.com Inc. and Agilestar.com Inc.
Change of citizenship and tax obligations
In 2014, after obtaining citizenship in St. Kitts and Nevis, Ver renounced his U.S. citizenship, but was still subject to U.S. tax obligations. The charges allege that Ver misled a law firm and an appraiser about the true number of bitcoins he and his companies owned.
Alleged sale of Bitcoins
By 2017, Ver had reportedly sold 70,000 bitcoins for approximately $240 million. It is alleged that he failed to report this income and pay the taxes due, resulting in an estimated IRS loss of over $48 million.
Investigations and presumption of innocence
The IRS Cybercrimes Division is investigating the case. Ver, like all defendants, is presumed innocent until proven guilty.
The Bitcoin miner for your desk
