Crypto entrepreneur Roger Ver, famously known as “Bitcoin Jesus,” has reportedly reached a tentative agreement with the U.S. Justice Department that may lead to the dismissal of his criminal case. According to a Thursday report from The New York Times, sources familiar with the negotiation revealed that Ver, 46, has agreed to pay $48 million to settle a tax fraud allegation.
Ver was arrested in Spain last year after U.S. authorities issued a warrant for his arrest, based on claims that he failed to report significant gains made from Bitcoin sales in 2017. Specifically, the Justice Department’s indictment accused Ver and his companies of concealing their ownership of 131,000 Bitcoin back in 2014. The allegations further detail that when Ver sold these assets in 2017, he neglected to inform the IRS about the resultant profits, despite the fact they were held by U.S.-based corporations he controlled, namely MemoryDealers and Agilestar.
In a bid to garner support, Ver and his allies previously launched a campaign aimed at reaching out to former President Donald Trump, hoping to influence a dismissal of the case. During Trump’s presidency, a number of lawsuits against various digital asset companies were dropped, and several prominent figures in the cryptocurrency arena received pardons.
Efforts to obtain comments from Ver regarding the recent developments were unsuccessful, as he chose not to respond to queries from Decrypt. Likewise, his legal team did not reply to requests for information.
Known for his early enthusiasm for Bitcoin, Ver earned the moniker “Bitcoin Jesus” by distributing the cryptocurrency during its infancy, when it was valued at very little. His trajectory took a notable turn as he began endorsing Bitcoin Cash, a spinoff of Bitcoin, which currently ranks as the 23rd-largest digital asset, although it has a significantly lower market capitalization than Bitcoin (BTC) itself. Ver has consistently positioned Bitcoin Cash as the “real” form of Bitcoin, often clashing with the staunch supporters of traditional Bitcoin through his assertive marketing tactics.
In addition to his controversial business dealings, Ver has a checkered past, having served time in prison in 2002 for the sale of explosives on eBay. In 2014, he renounced his U.S. citizenship, opting for citizenship in St. Kitts and Nevis, a known tax haven.
As the negotiations with the Justice Department progress, the cryptocurrency community will be keeping a close eye on how this case unfolds and its implications for other crypto entrepreneurs facing legal challenges.
