Austin man gets 2 years in prison for cryptocurrency tax fraud, a DOJ first

AUSTIN (KXAN) — An Austin man was sentenced Thursday morning to two years in prison for fraudulently underreporting $4 million in bitcoin sales, according to a U.S. DOJ press release.

Frank Ahlgren III, who the DOJ calls an "early adopter" of cryptocurrency, pled guilty to the charges on Sep. 12. An IRS Criminal Investigations (IRS-CI) agent said in the release that the conviction is "the first criminal tax evasion prosecution centered solely on cryptocurrency."

"Ahlgren will...