{"id":616492,"date":"2025-01-08T11:11:46","date_gmt":"2025-01-08T11:11:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=616492"},"modified":"2025-01-08T11:11:46","modified_gmt":"2025-01-08T11:11:46","slug":"bitcoin-investor-ordered-to-surrender-crypto-keys-in-landmark-tax-case","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-investor-ordered-to-surrender-crypto-keys-in-landmark-tax-case","title":{"rendered":"Bitcoin Investor Ordered To Surrender Crypto Keys In Landmark Tax Case"},"content":{"rendered":"

A Texas federal court judge ordered Frank Richard Ahlgren III and his associates to surrender all crypto private and public keys, accounts, and access codes.<\/p>\n

Frank Richard Ahlgren III was sentenced to two years in prison for tax fraud in December. As part of a court-issued restraining order, he was ordered to hand over his crypto and other wallet private keys and access codes.<\/p>\n

The Texas Bitcoin investor misreported capital gains from over $3.7 million in Bitcoin<\/a> sales between 2017 and 2019, owing the US government approximately $1.1 million in restitution.<\/p>\n

On Jan. 6, Austin Federal Court Judge Robert Pitman ordered Ahlgren, along with his family, friends, and advocates, to identify and surrender any devices used to store his cryptocurrency, as well as any public keys, private keys, seed phrases, or passphrases.<\/p>\n

Pitman ordered all parties to identify all accounts related to Bitcoin, Bitcoin Cash, Litecoin, and Ether. He also prohibited the parties from transferring any of Ahlgren’s cryptocurrency without first having it approved by a court. This includes any action that could hide, reduce, or lower the value of cryptocurrency unless funds are used for “normal monthly living expenses.”<\/p>\n

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🚨 Early Bitcoin investor Frank Richard Ahlgren III has pleaded guilty to underreporting $3.7M in Bitcoin gains, marking the first U.S. criminal tax evasion case focused solely on cryptocurrency. $Ahlgren#CryptoTax<\/a> #Bitcoin<\/a> #IRS<\/a> #TaxEvasion<\/a> #CryptoNews<\/a> pic.twitter.com\/gukOP8P9Nz<\/a><\/p>\n

— CrytpoManiac5000 (@CryptoMania5000) December 13, 2024<\/a><\/p><\/blockquote>\n