Frank Richard Ahlgren III from Austin, Texas, has been sentenced to two years in prison for underreporting capital gains on $3.7 million in Bitcoin$BTC
sales—marking the first-ever criminal crypto tax evasion case.
🔍 Between 2017 and 2019, Ahlgren concealed his gains by using multiple wallets, in-person cash exchanges, and mixers to hide transactions. He also lied to his accountant about the cost basis of his Bitcoin purchases.
💡 The DoJ emphasized that as crypto prices rise, so does the temptation to dodge taxes. Their message? Pay your taxes, or face federal prison.