Bail Granted to Bitcoin Investor Roger Ver by Spanish Court Amid Possible Extradition to U.S.
Summary:
Renowned Bitcoin investor Roger Ver has been granted bail by a Spanish court amid possible extradition to the United States to face charges of mail fraud, tax evasion, and falsifying tax returns. Ver, who renounced his U.S. citizenship in 2014, faces allegations of failing to report an estimated $48 million in capital gains, defrauding the Internal Revenue Service. He is required to stay in Spain, surrender his passport, and make bi-daily court appearances as part of his bail conditions.
Renowned Bitcoin investor, Roger Ver, has been granted bail by a Spanish court in anticipation of a possible transfer to the United States. As reported by Bloomberg, Ver was released from a Spanish prison on May 17 after posting bail upwards of $163,000. He must remain within Spanish territory, surrender his passport, and make court appearances every two days per bail conditions.
The prevalent Bitcoin (BTC) investor is facing charges of mail fraud, tax evasion, and falsifying tax return statements, by the U.S. Justice Department announced on April 30. The allegations include withholding information about capital gains worth an estimated $48 million via BTC and other asset sales, thereby defrauding the Internal Revenue Service.
Although born in the U.S., Ver renounced his citizenship in 2014 and possesses no U.S. passport. He is now a legal citizen of Saint Kitts and Nevis and Antigua and Barbuda. U.S. officials plan on extraditing Ver from Spain to have him face trial in the U.S.
Ver, a notable advocate for Bitcoin Cash (BCH), was also part of a 2022 controversy with CoinFlex, who accused him of having an outstanding $47 million debt in USD Coin (USDC). He served ten months in a U.S. federal prison in 2002 and 2003 for illegal explosives selling on eBay. Ver had recounted his period of incarceration in a 2018 video, talking about the harsh conditions and the misery of being separated from friends and family.
According to legal officials, Ver could potentially receive a maximum sentence of up to 20 years in a federal prison for each mail fraud charge, five years for each tax evasion charge, and three years for each falsified tax return charge if found guilty. Since his arrest, Ver has ceased posting on all his social media accounts.
Published At
6/6/2024 7:02:00 PM
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