Released on Bail, But Not Free Yet: Roger Ver Faces US Extradition from Spain

Roger Ver, an early Bitcoin investor known as “Bitcoin Jesus,” has been released on bail by a Spanish court while awaiting possible extradition to the United States. 

According to a Bloomberg report dated June 5, Ver posted approximately $163,000 in bail on May 17, which allowed his release from Spanish jail. 

Charges Against Roger Ver

The U.S. Justice Department announced charges against Ver on April 30, accusing him of mail fraud, tax evasion, and filing false tax returns. The allegations claim that Ver provided false or misleading information to the law firm and appraiser who prepared his tax returns related to his expatriation.

Under the conditions of his bail, Ver is required to remain in Spain, surrender his passport, and appear in court every two days. He is also accused of undervaluing two of his companies that held 73,000 of his Bitcoin holdings and failing to report his personal holdings.

 If convicted, Ver faces severe penalties, including a maximum sentence of up to 20 years in federal prison for each mail fraud count, up to five years for each tax evasion count, and up to three years for each count of subscribing to a false tax return. Since his arrest, Ver has not posted on any social media platforms. 

Ver’s Bitcoin Sales and IRS Allegations

In November 2017, Ver reportedly sold tens of thousands of Bitcoin for around $240 million in cash. These sales were legally required to be reported to the IRS, along with his receipt of Bitcoin from the two firms. According to the indictment, Ver’s actions allegedly caused a loss of at least $48 million to the IRS.

Roger Ver, a vocal libertarian and Bitcoin advocate, earned the nickname “Bitcoin Jesus” for his early adoption and promotion of the cryptocurrency, even giving it away for free to encourage its use. Born in California, Ver renounced his U.S. citizenship in 2014 and no longer holds a U.S. passport. 

He currently holds citizenship in Saint Kitts and Nevis as well as Antigua and Barbuda. U.S. officials have expressed their intention to extradite Ver from Spain to the United States to face trial.

Ver’s Involvement with Bitcoin Cash and Legal History

Ver is also known for his support of Bitcoin Cash, a cryptocurrency that emerged from a split with Bitcoin. In 2022, he was involved in a scandal with CoinFlex, a cryptocurrency trading platform that claimed Ver owed them $47 million in USD Coin. 

This was not Ver’s first run-in with the law; in 2002, he was sentenced to 10 months in federal prison for selling explosives on eBay. In a 2018 video, Ver recounted his prison experience, describing the initial days as being confined in a tiny cell for 24 hours a day. He emphasized that the real punishment of prison was the complete separation from all family and friends.

Ver’s perspective on the law is unconventional. In a 2019 talk, he argued that lawbreakers play a crucial role in societal progress. He stated that without individuals willing to break the law, historical injustices like slavery and segregation would still exist. Ver believes that those who have the courage to defy laws have the potential to make the world a better place.

As Ver remains in Spain under bail conditions, the legal proceedings regarding his extradition and the charges against him continue to unfold. The case highlights the ongoing scrutiny and legal challenges faced by prominent figures in the cryptocurrency world.