โ๏ธ Bitcoin investor Roger Ver faces extradition after being detained in Spain on tax fraud charges, as announced by the U.S. Department of Justice (DOJ).
๐ผ Ver, who became a citizen of St. Kitts and Nevis in 2014, is accused of evading taxes totaling $50 million while operating two American companies, MemoryDealers.com and Agilestar.com.
๐ The DOJ alleges Ver failed to pay sufficient exit taxes on the capital gains from his assets, including approximately 131,000 bitcoins owned by him and his companies in 2014.
๐ฐ By mid-2017, Ver's companies reportedly retained about 70,000 bitcoins, which he allegedly took control of and sold for around $240 million in November 2017.
๐ Ver is also accused of providing misleading information to a law firm, resulting in the filing of false tax returns that underreported the value of the bitcoins and his ownership of them.
๐ This incident underscores the importance of transparency and compliance in handling cryptocurrency assets concerning tax obligations, highlighting the need for individuals to adhere to tax laws and regulations.
