Roger Ver posts bail in Spain, faces extradition to the US

Early crypto investor Roger Ver, known by many as Bitcoin Jesus, was granted bail in Spain but still faces extradition to the U.S. for tax fraud charges.

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US DOJ Arrests Bitcoin Jesus Roger Ver for $50M Tax Evasion

Ver was arrested in Spain during the weekend.

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Bitcoin Jesus Arrested in Spain for Evading $48 Million in US Taxes

Roger Ver, an early investor in Bitcoin and now an advocate of Bitcoin Cash, was arrested last weekend in Spain on US-brought criminal charges of mail fraud, tax evasion, and filing false tax returns. The authorities in the United States will now seek his extradition.

According to an announcement by the Justice Department yesterday (Monday), Ver evaded at least $48 million in taxes in the United States.

The Face of Bitcoin Cash

Ver is a vocal crypto advocate who even gained the title of Bitcoin Jesus in the early years of cryptocurrency adoption. However, he disagreed with the majority of the Bitcoin miners who opposed changes to the blockchain, leading to the creation of Bitcoin Cash. Ver became a strong advocate for Bitcoin Cash.

According to the latest announcement, Ver obtained citizenship from St. Kitts and Nevis in early 2014 and renounced his US citizenship. However, he continued to own MemoryDealers and Agilestar, two US-incorporated companies that sold computer and networking equipment.

An Early Bitcoin Investor

The US authorities allege that Ver began acquiring Bitcoins for himself and his companies as early as 2011. However, he failed to pay an exit tax allegedly during his expatriation. He is even accused of concealing information from a law firm he hired, resulting in the filing of false tax returns.

As a result of his expatriation, Ver allegedly was required under US law to file tax returns that reported capital gains from the constructive sale of his worldwide assets, including the Bitcoins, and to report the fair market value of his assets. He was also allegedly required to pay a tax referred to as an exit tax on those capital gains, the Justice Department noted.

The estimates of the US authorities show that Ver and his companies owned approximately 131,000 Bitcoins when he obtained St. Kitts and Nevis citizenship. The two companies held 73,000 of those Bitcoins.

Ver allegedly provided or caused to be provided false or misleading information to the law firm and appraiser that concealed the true number of Bitcoins he and his companies owned, the Justice Department added. As a result, the law firm allegedly prepared and filed false tax returns that substantially undervalued the two companies and their 73,000 Bitcoins and did not report that Ver owned any Bitcoins personally.

Furthermore, Ver sold tens of thousands of Bitcoins in November 2017 for about $240 million in cash. According to the US authorities, he needed to report the gains to the IRS and pay tax on the dividends he received from the two US-incorporated companies.

Vers 2017 individual income tax return did not report any gain or pay any tax related to the distribution of MemoryDealers and Agilestars Bitcoins to him, the Justice Department noted. In total, Ver is alleged to have caused a loss to the IRS of at least $48 million.

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DOJ Arrests Early Bitcoin Investor Roger Ver, 'Bitcoin Jesus,' on Charges of Tax Fraud

Ver is alleged to have caused a loss to the IRS of at least $48 million, said the DOJ.

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US Justice Dept charges Roger Ver with tax fraud

The early crypto investor, often called Bitcoin Jesus, faces extradition to the U.S. after being charged with evading nearly $50 million in taxes.

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‘Bitcoin Jesus’ says Ethereum is the front-runner for global crypto adoption

Roger Ver said that Ethereum, not Bitcoin, will lead the most new users to crypto.

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Roger Ver Rejects Blockstream CEOs Invitation, Remains Loyal to Bitcoin Cash Over BTC

Roger Ver, an early Bitcoin investor, has decided to continue supporting Bitcoin Cash (BCH) over Bitcoin (BTC) despite an invitation from Blockstream CEO Adam Back to rejoin the Bitcoin community. Ver criticizes layer two blockchain solutions, like Back’s Liquid Network, as centralized or unreliable, maintaining that bitcoin cash more closely aligns with the original vision [...]

The post Roger Ver Rejects Blockstream CEOs Invitation, Remains Loyal to Bitcoin Cash Over BTC appeared first on Crypto Breaking News.

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Roger Vers New Book Tops Amazons New Releases, Memoir Dives Deep Into Bitcoin Controversies

Crypto entrepreneur and Bitcoin.com founder, Roger Ver, has recently unveiled the publication of a 304-page book titled “Hijacking Bitcoin: The Hidden History of BTC,” offering a fresh viewpoint that diverges from commonly accepted historical accounts. This book provides readers with an alternate perspective, challenging the traditional narratives surrounding Bitcoin’s evolution and history. Exploring Bitcoin’s History [...]

The post Roger Vers New Book Tops Amazons New Releases, Memoir Dives Deep Into Bitcoin Controversies appeared first on Crypto Breaking News.

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Roger Ver at Webx Asia: Reflections on Payments, Self-Custody, and the Role of Crypto Lawbreakers

When asked whether he’d rather be called a “bitcoin evangelist,” or “Bitcoin Jesus” at the recent Webx seminar in Tokyo, Roger Ver responds: “I prefer to be called Roger.” The enthusiastic and outspoken figure in crypto, scattering sats around the world with unapologetic frankness about government, the bitcoin block size wars, and conflations of legality [...]

The post Roger Ver at Webx Asia: Reflections on Payments, Self-Custody, and the Role of Crypto Lawbreakers appeared first on Crypto Breaking News.

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Roger Ver Breaks Silence on Genesis Lawsuit, Claims He Has Sufficient Funds to Pay

Ver slammed the crypto broker and said that it "can’t ask its clients to play a 'Heads clients lose, tails Genesis wins' game."

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‘Bitcoin Jesus’ Echoes Gemini Claims of ‘Accounting Fraud’ at Genesis

Roger Ver said that Genesis refused to clarify some points in its allegedly misreported financial statements.

Continue reading ‘Bitcoin Jesus’ Echoes Gemini Claims of ‘Accounting Fraud’ at Genesis at DailyCoin.

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Bitcoin Cash advocate Roger Ver sued for $20.8 million

Genesis sued Roger Ver for $20.8 million in unpaid crypto options. GGC International sued Ver in New York State Supreme Court on Jan. 23. BCH has not reacted to the lawsuit. (Read More)

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Bitcoin Cash’s Ver Has $20 Million Owed To Genesis, But There’s A Twist

Bitcoin Cash promoter Roger Ver says that while he can afford to pay money that he allegedly owes to Genesis unit GGC International, he may [...]

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“Bitcoin Jesus” Roger Ver Owes Genesis $20M

Roger Ver apparently owes Genesis $20 million. He was previously accused by crypto exchange CoinFLEX of defaulting on a $47 million obligation. Bitcoin Jesus Loves Leverage 2022 must have been...

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Genesis Sues Roger Ver for $20 Million for Failing to Settle Crypto Options

As insolvency drama rages on, Roger Ver has found himself in legal trouble with another embattled crypto firm.

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Ep03- OneCoin – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Good news! Since OneCoin is back on the news and “The Missing Cryptoqueen” already released an 11th episode, proving that they’re back for real, we’re going to double down on our efforts. Starting today, we’ll summarize two episodes a week to catch up with the new developments in Dr. Ruja’s case. We hit the nail on the head on this one, and there’s nothing left to do but let the roulette roll and see where the OneCoin story takes us. Related Reading: Sam Bankman-Fried Eyes On Bidding For Celsius Assets In this episode, we learn that OneCoin’s internal slogan was “the greatest company ever” and Jamie Bartlett travels to Sofia, Bulgaria, to look at Dr. Ruja’s properties. This episode is free of mafia insinuations, it deals with the cultic aspects of OneCoin’s entrepreneurial culture instead. We’re also able to put a number on how big of a scam OneCoin really was. SPOILER ALERT: It was at least €4B big. Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox. About OneCoin And “The Missing Cryptoqueen’s” Episode Three The most exciting thing about “The Missing Cryptoqueen” is the sense of immediacy it conveys. It’s a living and breathing podcast. The story was happening all around Jamie Bartlett and the team. The OneCoin people react to “The Missing Cryptoqueen’s” creation and, through social media, attack the creators with everything they have. And the whole scene is part of the podcast. And this is just episode three. In the end, they even ask for the audience to call and tip them about Dr. Ruja’s whereabouts. This episode starts with Konstantin Ignatov, Dr. Ruja’s younger brother, personal assistant, and heir to the OneCoin crown. He was arrested by the FBI and charged with money laundering and fraud. The authorities had already declared OneCoin a fraud, even. Surprisingly, when Bartlett and the team visit the OneCoin headquarters, they realize that the company is still “open for business.” People are still buying OneCoin despite the fact that one of their leaders is on the run and the other was arrested. That leads us to the cult-like aspects of the operation. A faith-like belief justifies the disappearance of the leaders as a conspiracy to stop OneCoin. In the quote below, you will feel the silence while reading the description of the organization’s offices. You’ll feel the Dr. Ruja worship. It’s just one step away from religion and very near a cult.  Jamie Bartlett describes OneCoin as “less a cryptocurrency and more like a belief system.” An expert in that field corroborates the hypothesis. BTC price chart for 10/20/2022 on Bitstamp | Source: BTC/USD on TradingView.com The Devastation That They Caused At one point we, once again, listen to Dr. Ruja’s own voice saying the crypto scammers’ slogan. “In two years, no one will talk about bitcoin.” If you ever hear that, run. In the second episode, we figured out that OneCoin called the critics “haters.” In this one, we learn that the investors and employees are instructed to keep away from them Scientology-style. Another surprising fact is that the second term OneCoin uses the most to describe its critics is “bitcoiner.” Those pesky bitcoiners, always causing trouble. We learn about the scale of the devastation that Dr. Ruja caused by hearing about the OneCoin Victims Support Group. The victims are broken, they’ve lost everything and then some. We also learn about the scale of the scam by way of a report/ database that producer Georgia Catt got her hands on. From all over the world, the organization was getting €60M a week. From August 2014 to March 2017, OneCoin’s revenue was over €4B. Over €100M were from the UK alone. And that’s where the report stops, the organization was still making money left and right. Quotes From “The Missing Cryptoqueen ’s” Episode Three – “More Than Just A Coin” An anonymous witness describing the OneCoin offices:  “At its peak, it was about 50 people working in the Sofia office. Ruja’s office is on the 4th floor. You never saw her without the gypsy earrings, the gowns, the jewelry, everything. Even when she’s just working in the office. Inside the Sofia office, the crypto center is where members of the OneLife network are allowed to meet members of the Sofia staff who are important. If you are out of favor, they won’t let you in, or they’ll keep you sitting there the whole day, waiting.  It’s set up almost like a cathedral. You don’t speak out loud, you whisper to each other. It’s all set in dark tones, everything is gilded. There was a big cardboard cutout of Ruja. You see people touching it and doing that stupid OneCoin sign like it’s an icon. It’s gone now because it eventually fell apart because too many people were touching it. Dr. Ruja! Dr. Ruja! The biggest insult that you can give OneLife is to say: “that’s not Dr. Ruja’s vision.” Bitcoin-enthusiast Timothy Curry, describing the cult of personality behind Dr. Ruja: “There were many cultish things that the company did. The repetitive indoctrination. If you look at the top leaders, the way they dress, the way that they showed things off. Ceremonial things, almost like, especially on stage. Everything, from the musical introductions to Ruja, to the theatrics, they really did create a worship behind her.” OneCoin Material And Episode Credits Six years ago, while OneCoin conquered the world, NewsBTC quoted the infamous Roger Ver speaking on the case. Then known as a “bitcoin evangelist,” the controversial figure denounced OneCoin for what it is:  “In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand: “There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.” OneCoin has been around for over two years, but questions surrounding its authenticity continue to plague the Internet.” Say what you will about Roger Ver, but the man was right on the money on this one. Related Reading: Cardano Price Misses Fireworks On Its Birthday, How Far Will ADA Fall? And finally, the episode’s credits: Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast: Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Featured Image: The Missing Cryptoqueen podcast logo from the BBC | Charts by TradingView

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Crypto Exchange CoinFlex Proposes Restructuring Plan

Most shareholders will get wiped out as part of the reorganization.

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CoinFlex backtracks on resuming withdrawals

CoinFlex will likely not resume withdrawals for its users on June 30, CNBC reported, citing the exchange’s CEO Mark Lamb.

The post CoinFlex backtracks on resuming withdrawals appeared first on CryptoSlate.

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CoinFlex CEO: Restoring Withdrawals Could Take More Time Than Expected

Mark Lamb sounds optimistic about $47M in rvUSD and says the promised 20% interest would be paid with money recouped from Roger Ver.

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CoinFLEX Says Bitcoin Jesus’ $47 Million Loan Default Is Behind Withdrawal Troubles

Physical futures crypto exchange, CoinFLEX, has accused Roger Ver, a longtime Bitcoin evangelist popularly known as the "Bitcoin Jesus," of defaulting on a $47 million loan.

Continue reading CoinFLEX Says Bitcoin Jesus’ $47 Million Loan Default Is Behind Withdrawal Troubles at DailyCoin.com.

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