Ver, 46, remains in Spain after being arrested in April 2024 for tax evasion. The agreement ends years of legal wrangling over his alleged underpayment of capital gains taxes after leaving the country.
Trump elected not to pardon him, but Ver was able to reach an agreement with the new administration.
He faced a possible 109-year sentence in the case filed in federal court in Los Angeles.
Ver was represented by Attorney Christopher Kise, who previously represented Trump.
“I am very grateful this case has been dismissed and appreciate the Trump administration’s leadership and professionalism in working towards this final resolution,” Ver said in a statement.
As one of the earliest and most avid promoters of cryptocurrency and crypto startups, Ver managed Bitcoin.com from 2015 to 2019. He earned the nickname “Bitcoin Jesus” by giving out bitcoin to random people.
In court documents, prosecutors say Ver started collecting bitcoins in 2011. Ver renounced his U.S. citizenship in 2014 and obtained citizenship in St. Kitts and Nevis, an island country in the eastern Caribbean Sea.
Because of his net worth, Ver was required to file certain expatriation-related tax returns and pay taxes on the capital gains earned from his assets, including bitcoins, authorities said.
In a deferred prosecution agreement with the U.S. Department of Justice, Ver admitted he did not report all of his bitcoins and didn’t pay the required capital gains tax.
Prosecutors say his failure to report capital gains caused the United States a loss of nearly $17 million.
Ver admitted he understated his taxes willfully, which violates federal law, according to the U.S. Department of Justice.
According to Ver, he owed the maximum penalty of more than $12 million, along with interest on the taxes and penalties.
“Today’s resolution demonstrates that there are consequences for those who intentionally conceal their assets and evade their tax obligations,” said Kareem Carter, executive special agent in charge of IRS criminal investigations.
The agreement calls for the federal indictment against Ver to be dismissed after one month if he abides by terms that require him to pay the IRS $49.9 million to cover past taxes, the civil penalty, and interest.
“Mr. Ver is accepting responsibility for his actions and has agreed to pay a substantial penalty,” said acting U.S. Attorney Bill Essayli in Los Angeles. “Every person, whether you’re a millionaire or not, is required by law to pay taxes and we will not hesitate to hold anyone accountable.”
