"Bitcoin Jesus" Roger Ver has been arrested in Spain following charges of tax evasion and mail fraud from the US.
In a Department of Justice indictment released on Tuesday, the former Bitcoin.com CEO and early crypto investor was accused of evading $48 million in taxes in 2014.
(Photo : Bitcoin.com)
The case is related to the owned 131,000 bitcoins, or $7.5 billion in today's trading, Ver failed to mention in his tax reports in his petition to become a citizen of St. Kitts and Nevis.
Renouncement of US citizenship requires petitioners to declare their financial holdings, including bitcoins and other cryptocurrencies, and pay a special tax, which Ver underreported to pay lower taxes.
US officials seek to extradite "Bitcoin Jesus" from Spain for Ver to face eight counts of tax fraud in his native country.
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Who is 'Bitcoin Jesus' Roger Ver?
Ver earned the nickname "Bitcoin Jesus" in the past for his speeches, which are often preachy in manner, about the bright future of cryptocurrency.
The crypto investor is known for bringing his "teachings" even to high-school students, encouraging young people to invest in bitcoins as soon as possible.
This was not the first time Ver was at risk or was ever put in a federal prison.
Ver was previously jailed for 10 months in 2002 after pleading guilty to selling 14 pounds of explosive devices called "Pest Control Report 2000."
The crypto investor was caught after authorities found the illegal explosives being delivered via the United States Mail and on the apartment building Ver rented to hide his supply.
More Crypto Leaders Heading to Prison
Ver is only the latest name in the crypto industry to join the likes of Binance founder Changpeng Zhao and former FTX CEO Sam Bankman-Fried in prison for various federal crimes related to their crypto business.
Bankman-Fried is currently on his way to serving 25 years in prison for seven counts of conspiracy and fraud, while Zhao will only serve 10 months for violating US sanctions for digital trading.
The crackdown on the industry leaders marks the US government's move to regulate the previously untamable market many criminals use for financial transactions without getting detected.
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