The US government arrested Frank Richard Ahlgren III Last year he accused him of presenting false income tax returns. In December, the investor was sentenced to two years in prison for his actions.
In update case, the The US court ordered Ahlgren to give access to his Bitcoin wallet, which contains an amount of 800 million dollars.
According to the information in the lawsuit, the The suspect has in his possession approximately 1,366 bitcoins that he purchased in 2015 at an average price of $500 each. In total, your winnings reach an exorbitant 19,000%.
Investors must pay a $1 million fine to the US government
Frank Richard Ahlgren III is the first person in history to be arrested in the US for failing to pay his taxes related to the sale of cryptocurrencies. The American also agreed to pay a fine of $1 million.
Prosecutors then asked the judge to seize Ahlgren’s bitcoins, arguing that they cannot be seized by physical means like other assets.
“Obtain the private keys that allow access so that [os bitcoins] cannot be moved by others. If the private keys are lost or destroyed, the virtual currency is irrecoverable.”
Going further, the The judge ordered that the suspect must also identify other devices used to store his bitcoinsas well as brokerage accounts and other services.
Since Ahlgren, or someone he trusts, can still move these bitcoins even if they give up access to their wallets, the US government is expected to move these coins to a new address where only they can access the funds.
The US government owns R$118 billion in cryptocurrencies
According to information from Arkham Intelligence, the US government’s cryptocurrency portfolios are valued at R$118 billion. Of this amount, R$116 billion is in Bitcoin.
About 94 thousand bitcoins are linked to the arrest of Bitfinex hackers must be returned to its true owners.
Further on, there are also 69 thousand bitcoins linked to Silk Road and another 51 thousand bitcoins linked to the Silk Road hack, such amounts can be auctioned or else used as the start of a government bitcoin reserve.
As for Ahlgren’s case, the U.S. government’s intent is unclear. Anyway, he’s not the only one with these problems. Roger Ver, also known as the Jesus of Bitcoin, is facing similar accusationsbut you have an advantage because you live outside the US.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
