Roger Ver, recognized in the crypto community as “Bitcoin Jesus,” is contesting an eight-count indictment brought by the U.S. Attorney for the Central District of California. Ver, known for his early investments in Bitcoin and advocacy for digital assets, is accused of failing to report $50 million in taxes on Bitcoin transactions valued at $240 million in 2017. Additional charges allege that Ver underrepresented the value of his businesses during his 2014 renunciation of U.S. citizenship to avoid higher exit taxes. Roger Ver Fights Tax Evasion Charges According to FOX Business , Roger Ver is challenging allegations that he evaded paying $50 million in taxes on substantial Bitcoin sales in 2017. Prosecutors claim Ver also underreported the value of two companies he owned, MemoryDealers US and Agilestar, when he expatriated in 2014. Allegedly, the underreporting allowed him to avoid a higher exit tax, a levy imposed on unrealized capital gains for individuals relinquishing U.S. citizenship. Ver’s legal team, comprising attorneys from prominent law firms Steptoe LLP and Kimura London & White, filed a motion to dismiss the indictment. The motion argues that the Justice Department engaged in unconstitutional government overreach and selectively withheld key evidence. It also claims the actions violated Ver’s right to due process. The filing includes correspondence between Ver and his attorneys, indicating his efforts to ensure compliance with crypto tax regulations at the time. Allegations of Government Overreach and Communication Misuse Roger Ver’s legal representatives contend that prosecutors improperly obtained privileged attorney-client communications and used them to build their case. These communications include detailed emails in which Ver sought professional advice to meet his tax obligations, even under ambiguous guidelines. The legal team also claims that the indictment reflects selective enforcement against Roger Ver, a vocal critic of U.S. cryptocurrency regulations . The motion claims crypto tax rules during Ver’s expatriation were unclear, making criminal charges unwarranted. Furthermore, the attorneys assert that the government’s actions violate core constitutional protections for individuals seeking to renounce citizenship. More so, Ver’s defense argue that crypto tax regulations were insufficiently defined at the time of his alleged offenses. The IRS began issuing guidance on virtual assets as property in late 2014, after Ver had renounced his U.S. citizenship. His legal team maintains that Roger Ver relied on attorneys and accountants to comply with all applicable laws. In an email correspondence dated April 2013 and included in the filing, Ver expressed to his lawyer, “I want to make sure that my exit tax payments are as clean as possible, with no room to have trouble from the IRS in the future.” Moreover, emails reveal that Ver’s advisors recommended obtaining third-party appraisals to address the difficulty of valuing Bitcoin accurately, given the low market liquidity in 2014. The defense further argues that any discrepancies were unintentional and do not warrant criminal prosecution. The motion to dismiss is being reviewed by the U.S. District Court for the Central District of California. Ver’s attorneys express optimism that the incoming Trump administration, may influence the case’s outcome. The post Bitcoin Jesus Roger Ver Fights US Indictment Alleging Tax Evasion: Details appeared first on CoinGape .
