Roger Ver Fights to Dismiss $48 Million Tax Evasion Indictment
Roger Ver, known as “Bitcoin Jesus,” is contesting his tax evasion indictment. In a federal court filing in Los Angeles, his lawyers argue that the Internal Revenue Service’s (IRS) exit tax on wealthy individuals renouncing U.S. citizenship is unconstitutional and excessively burdensome.
Ver, who expatriated in 2014, faces accusations of evading $48 million in taxes related to the sale of $240 million worth of crypto assets. The IRS claims he concealed the actual value of his Bitcoin holdings and misrepresented the worth of his companies during the exit process. His defense asserts he acted in good faith, relying on legal advice and appraisers to fulfill his tax obligations under ambiguous regulations.
Ver’s legal team contends that prosecutors ignored evidence of his intent to comply with tax laws, including an email expressing his desire to avoid future conflicts with the IRS.
The prosecution alleges Ver withheld information about crypto sales through his companies, MemoryDealers and Agilestar, in 2017, which generated $240 million that was reportedly not accurately reported.
Additionally, Ver's lawyers accuse IRS agents of misconduct, including breaching attorney-client privilege during an unannounced interview with one of his tax attorneys. This claim references a 2022 Supreme Court case linked to Ver, dismissed without a ruling in 2023.
Currently residing in Mallorca, Spain, Ver awaits a court decision regarding potential extradition to the U.S. for what could be a landmark crypto-related tax case.
From Crypto Evangelist to Controversial Figure
Ver's involvement in crypto began in 2011 when he purchased Bitcoin for less than a dollar, becoming an early and vocal supporter. His investments include Blockchain.com, BitPay, and Ripple. After departing from the Bitcoin community in 2017, he advocated for Bitcoin Cash as a more scalable payment solution.
In 2022, Ver returned to X (formerly Twitter) and backed Dogecoin, stating it was a superior payment option compared to BTC due to faster transaction times and lower fees.
Aside from his current tax issues, Ver's financial history includes allegations of unpaid debts. In 2022, Genesis sued him for $20.8 million related to crypto options, while CoinFLEX claimed he defaulted on a $47 million agreement, which reportedly escalated to $84 million. CoinFLEX faced financial difficulties leading to its restructuring, with Ver denying the claims without substantial rebuttals.
While Ver maintains his reputation as a crypto pioneer, his legal challenges and financial allegations complicate his legacy.