Roger Ver Challenges $50 Million Tax Fraud Charges in Court
Roger Ver, known as Bitcoin Jesus, faces tax fraud charges from the Department of Justice, claiming the indictment is “unconstitutional.” Ver argues that it misrepresents communications with his legal team and relies on an unclear regulatory framework.
Ver's defense states he sought legal advice in 2014 to understand potential tax implications of leaving the US. They conducted hypothetical scenarios regarding selling his bitcoin holdings, noting that selling was technologically unfeasible at that time due to a thinly traded market and the collapse of Mt. Gox.
His lawyers argue that calculating unrealized gains and exit taxes was complex, given the ambiguity of the tax code regarding cryptocurrencies. They assert that the laws were vague and did not provide clear guidance on applying tax regulations to digital currencies.
The case is set for trial in lower Manhattan in February next year, with potential extradition to the US. Current trends indicate Manhattan prosecutors are reducing the number of crypto-related cases, which may impact Ver’s situation.