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Early Bitcoin Investor Sentenced to Prison for Tax Evasion on $3.7 Million BTC Sale
- Frank Richard Ahlgren III, an early Bitcoin investor, has been sentenced to two years in prison for tax evasion.
- Ahlgren underreported capital gains from selling $3.7 million worth of Bitcoin.
- He inflated the cost basis of his Bitcoin purchases to reduce reported capital gains.
- Ahlgren also failed to report additional Bitcoin sales worth over $650,000.
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