The IRS allows special relief for victims of Ponzi schemes. Because Ponzi-type schemes can continue for years, many investors wind up faced not only with the loss of their original investments, but also with having paid taxes on “phantom income,” based on fraudulent statements or estimates. If you have losses from a virtual currency exchange…
UPDATE 2: It’s over. Ruja Ignatova (AKA “Dr. Ruja”) has disappeared and the other principals are in jail, awaiting prosecution on fraud charges. UPDATE 1: If OneCoin is still participating in “voluntary monthly audits,” Semper Fortis isn’t doing them. According to Georgi Kaloyanov, the firm’s managing partner, Semper Fortis performed just two monthly audits “regarding…
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