Bitcoin Jesus to Pay $48M to End Tax Fraud Case

Prominent crypto investor Mr. Ruger Ver, popularly known as “Bitcoin Jesus,” has reached a preliminary agreement to settle a pending criminal tax fraud case against him. According to The New York Times, he is going to pay $48 million for fraud and tax evasion. 

Notably, Ver was one of the first investors in bitcoin (BTC), the world’s first cryptocurrency, during its early days. He also promoted crypto and preached support for many bitcoin-related projects; hence the name, “Bitcoin Jesus.”

Bitcoin Jesus Reaches $48 Million Settlement

The case against Ver has been ongoing since early 2024. U.S. prosecutors charged him with evading over $48 million in taxes for selling cryptocurrency worth about $240 million at the time. They also claimed he filed a false “exit tax” return after renouncing his U.S. citizenship over ten years ago. Prosecutors added that he did not report how much BTC he personally owned while underreporting his company’s holdings.

Remarkably, following his recent agreement with prosecutors, he is expected to pay $48 million, the exact amount he owed. Meanwhile, the case has not been filed in court as prosecutors are still in charge. Thus, there are two probable outcomes for the case. If Ver complies with the agreements, the charges could still be dropped. If he moves otherwise and the court is involved, there could be an increase or decrease in the amount he’s expected to pay. 

Trump’s Administration to Fight Crypto Tax Fraud

Although U.S. President Donald Trump has shown support for crypto on various occasions, his administration also aims to fight crypto tax fraud. Hence, Ver’s case has become the latest example of how the government is ready to crack down on individuals intending to follow in the same footsteps.

Notably, before Ver’s recent agreement, he had taken steps to escape the charges, all to no avail. Earlier this year, he paid $600,000 to Roger Stone, a longtime associate of President Trump, to try to wipe away the case. He also hired prominent U.S. lawyer David Schoen, who is known for representing Trump during his second impeachment trial. Finally, he had also hired another lawyer, Christopher M. Kise, who has stood in for President Trump against many criminal and civil charges.