Roger Ver, a prominent early investor in Bitcoin (BTC), has been released on bail by a Spanish court as he awaits possible extradition to the United States.
As reported on June 5 by Bloomberg, Ver posted approximately $163,000 in bail on May 17, enabling his release from Spanish jail. The conditions of his bail require him to stay in Spain, surrender his passport, and appear in court every two days.
The U.S. Justice Department announced charges against Ver on April 30 for mail fraud, tax evasion, and filing false tax returns. Allegations suggest that he defrauded the Internal Revenue Service of around $48 million by not reporting capital gains from his BTC and other asset sales.
Originally from California, Ver relinquished his U.S. citizenship in 2014 and currently holds citizenship with Saint Kitts and Nevis as well as Antigua and Barbuda. U.S. authorities intend to extradite Ver from Spain to face trial in the United States.
In addition to his involvement with Bitcoin Cash (BCH), Ver was recently caught up in a controversy with CoinFlex, claiming he owed the platform $47 million in USD Coin (USDC). He had previously served a 10-month sentence in federal prison in the U.S. in 2002 and 2003 for selling explosives on eBay.
Reflecting on his past incarceration in a video from July 2018, Ver expressed the difficulties of being separated from loved ones while in prison. If convicted, the Justice Department stated that Ver could face a maximum sentence of up to 20 years for each mail fraud count, five years for each tax evasion count, and three years for each false tax return count. Since his arrest, Ver has been inactive on social media platforms.
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