An Austin man was sentenced today to two years in prison for filing a tax return that falsely under-reported the capital gains he earned from selling $3.7 million in bitcoins, the Justice Department announced Thursday.
According to the DOJ, Frank Richard Ahlgren III was an early investor in bitcoins and purchased bitcoins and bought approximately 1,366 bitcoins in 2015. In 2017, he sold 640 bitcoins for a total of $3.7 million, and used the proceeds to purchase a house.
The DOJ said when it came time to prepare his 2017 federal income tax return, Ahlgren lied to his accountant ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.