Not very surprising. He had already been arrested, back in 2002, for selling illegal stuff on eBay. He was somewhat of an attacker of Bitcoin, promoting his "bcash" fork.
> Around that time, Ver allegedly took possession of those bitcoins and in November 2017 sold tens of thousands of them on cryptocurrency exchanges for approximately $240 million in cash.
> Even though Ver was not then a U.S. citizen, he was still legally required to report to the IRS and pay tax on certain distributions such as dividends from MemoryDealers and Agilestar, which were U.S. corporations.
> In total, Ver is alleged to have caused a loss to the IRS of at least $48 million.
Lesson: You can’t run away from Uncle Sam even after signing away your citizenship.
Very interesting that he got arrested in Spain for tax fraud, just like John McAfee.
Things look quite bad for him, he went all in on Bitcoin Cash, and even used leverage. He defaulted on CoinFLEX and owes them $47M in USDC.
Roger Ver went from owning 131,000 Bitcoins in 2014 (worth almost 8 billion USD as of today) to pretty much broke.
More and more countries are implementing an "exit tax" when wealthy people try to give up their citizenship. Also, the US authorities make it increasingly hard to do so. I wouldn't recommend anyone to become a US citizen. Once you are in, it is very costly to get out again.
111111101101 ·20 days ago
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afc ·20 days ago
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blackhawkC17 ·20 days ago
> Even though Ver was not then a U.S. citizen, he was still legally required to report to the IRS and pay tax on certain distributions such as dividends from MemoryDealers and Agilestar, which were U.S. corporations.
> In total, Ver is alleged to have caused a loss to the IRS of at least $48 million.
Lesson: You can’t run away from Uncle Sam even after signing away your citizenship.
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janmo ·20 days ago
Things look quite bad for him, he went all in on Bitcoin Cash, and even used leverage. He defaulted on CoinFLEX and owes them $47M in USDC. Roger Ver went from owning 131,000 Bitcoins in 2014 (worth almost 8 billion USD as of today) to pretty much broke.
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Hermel ·20 days ago
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