by Felix Ng, Coin Telegraph:
An early Texas Bitcoin investor was ordered to surrender his crypto and other wallet private keys and access codes as part of a restraining order after being sentenced in December to two years in prison for tax fraud.
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Frank Richard Ahlgren III, who falsely underreported capital gains on over $3.7 million in Bitcoin BTC
$94,262 sales between 2017 and 2019, owes the US government about $1.1 million in restitution.
Austin Federal Court Judge Robert Pitman on Jan. 6 ordered Ahlgren and any of his family, friends or representatives to identify and provide any physical devices used to store his cryptocurrency, along with any public keys, private keys, seed phrases or passphrases.
Pitman also ordered the parties to identify all crypto accounts relating to Bitcoin, Bitcoin Cash BCH$432.45, Bitcoin Gold BTG
$13.56, Ether ETH$3,292.94 or Litecoin LTC$100.46 and banned them from shifting any of Ahlgren’s cryptocurrency without prior approval from the court. This includes any action that could conceal, depreciate or diminish their value unless it is used for “normal monthly living expenses.”
The order will be in full force until Ahlgren satisfies any restitution obligation ordered by the court or until further order from the court.
