According to BlockBeats, on January 8, Bloomberg reported that Frank Richard Ahlgren III, the first Bitcoin investor convicted of tax crimes related to cryptocurrency asset trading in the U.S., has been sentenced to two years in prison and ordered to surrender the keys to access his cryptocurrency assets.
Court documents show that Ahlgren is accused of concealing at least 1,287 bitcoins through mixing services, which are currently worth over $124 million. He previously pleaded guilty to underreporting $3.7 million in capital gains tax from Bitcoin transactions and was ordered to pay the U.S. government $1 million in tax loss restitution.
U.S. District Judge Robert Pitman in Austin, Texas, ordered Ahlgren to surrender the keys and devices storing these crypto assets and disclose all cryptocurrency accounts. He is prohibited from transferring, selling, or depleting any property without court approval, but may use it for normal living expenses. Ahlgren's lawyer, Dennis Kainen, stated that his client will comply with the court's orders.
