First Bitcoin Investor Sentenced to Prison for Tax Evasion A bitcoin investor has become the first person to be sentenced to prison for avoiding taxes related to cryptocurrency. Frank Richard Ahlgren III, who invested in bitcoin early on, was sentenced to two years in prison on Thursday. He tried to hide $1 million in profits from his tax returns. Despite using various methods to cover his tracks, such as mixers, multiple wallets, and in-person cash exchanges, the authorities were able to trace his crypto transactions. Ahlgren, from Austin, Texas, began buying bitcoins in 2011 and increased...
Crypto26 Thu 12 2024arstechnicaSource 137 Views
