According to Bloomberg, early Bitcoin investor Frank Richard Ahlgren III was sentenced to two years in prison for tax evasion by falsely reporting capital gains from Bitcoin trading and was ordered to pay $1 million in tax restitution to the government. A federal court in Texas ruled that he must surrender the keys to approximately $124 million worth of cryptocurrency assets and disclose storage devices and all cryptocurrency accounts. Prosecutors noted that Ahlgren had hidden at least 1,287 Bitcoins through cryptocurrency mixing services in 2020 and used part of the proceeds to purchase property in Utah. The court ordered a ban on transferring or selling assets without approval, but allowed him to pay for normal living expenses.