a major legal case in the USA has concluded with Frank Richard Ahlgren IIIone of the first Bitcoin
btc
$101,432.88
investor, being sentenced to two years in prison.
Ahlgren, who is from Texas, was accused of not fully reporting the profits he made from selling Bitcoin between 2017 and 2019.
In addition to his time in prison, Ahlgren He will serve one year of supervised release and must pay 1.1 million dollars Back to the government. This case sends a strong message that tax evasion will not go unnoticed even in the world of cryptocurrencies.
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Ahlgren bought 1,366 bitcoin in 2015, when prices were below $500 per coinaccording to the Department of Justice (DOJ). In 2017, he sold 640 Bitcoin and earned $3.7 millionwhich he later invested in real estate.
However, problems arose when his Tax returns showed that he had inflated the original purchase price of the Bitcoin.making your profits seem smaller. Furthermore, he did not report additional Bitcoin sales worth $650,000 in 2018 and 2019.
Stuart Goldberg, a tax official at the Justice Department, said Ahlgren’s use of “sophisticated techniques” to conceal his income caught up with him. He noted that Ahlgren He went to great lengths to deceive his accountant and federal authorities..
Ahlgren moved his money through various digital wallets and used crypto mixers to hide your transactions. The DOJ estimates that his tax evasion It cost the government more than a million dollars.
Like the Ahlgren case, another high-profile lawsuit over Bitcoin and alleged tax fraud is making headlines. What is the story behind Roger Ver’s legal battle? Read the full story.
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