From 2017 to 2019, he concealed income from the sale of cryptocurrency worth $4 million by underestimating the purchase price of bitcoins. In 2018-2019, he did not declare sales of $650,000, using wallets and "mixers" to hide the transactions. The tax authorities suffered damages exceeding $1 million. The court ordered him to pay $1.09 million in compensation.
12/14/2024 3:36:54 PM (GMT+1)
Frank Algren from Texas was sentenced to 2 years in prison for concealing taxes on the sale of bitcoins worth $4 million and using mixers to anonymize transactions and hide profits 💸
166
Total views in all languages
Share: 100
x3
This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
Top Articles of the Last 10 Days
Australia does not plan to create a strategic cryptocurrency reserve, despite the USA's initiative to include XRP, Bitcoin, and others in the national financial reserve
Tether froze $27 million USDT on the Russian exchange Garantex, leading to the suspension of all operations and withdrawals in response to international sanctions
Turkish bank BankPozitif is launching a cryptocurrency custody service in partnership with Taurus, having received a license from the Turkish Securities and Exchange Commission for the safe custody of digital assets
European regulators are investigating OKX's involvement in laundering $100 million from the hacked funds of Bybit, considering a potential violation of MiCA standards for cryptocurrency services
1inch recovers $5 million stolen after an attack on the old version of the Fusion v1 smart contract, the hacker returned the funds by agreement with the platform
President Trump signed an order to create the Strategic Bitcoin Reserve and the National Digital Asset Reserve to strengthen the U.S. position in managing cryptocurrencies
OKX receives the MiFID II license to launch derivative products in Europe, expanding offerings for institutional clients and highlighting commitment to strict regulatory standards
