Texas Bitcoin Investor Frank Richard Ahlgren III Faces Prison for Underreporting $3.7M in Crypto Gains

Sep 15, 2024, 10:30 AM

A Texas-based Bitcoin investor, Frank Richard Ahlgren III, has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from Bitcoin sales. This underreporting resulted in a tax loss of more than $550,000 to the IRS. As a consequence, Ahlgren faces up to three years in prison.