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
Bolivia will start using cryptocurrency to pay for fuel imports against the backdrop of a dollar shortage and economic crisis in the country's energy sector
Franklin Templeton launches an ETF tracking the price of the cryptocurrency XRP, reflecting the growing interest in digital assets and expanding opportunities for investors
Utah removed the creation of a Bitcoin reserve fund from the HB230 bill, which now focuses on protecting the rights of miners and digital asset owners
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
The European Central Bank (ECB) plans to release the digital euro by October 2025, despite doubts from lawmakers due to the recent failure in the Target 2 system
Microsoft is developing its own AI models and testing alternatives to OpenAI to compete in the technology space, investing $14 billion and hiring industry experts
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
