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Bitcoin Investor’s $124M Crypto Keys Seized in Tax Fraud Case

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Texas Bitcoin investor Frank Richard Ahlgren III has been ordered to hand over the private keys to his crypto wallets, disclose all access codes, and identify all devices concealing his crypto, which is believed to be a stash now worth $124 million .

He was initially sentenced in December 2024 for falsely underreporting the capital gains earned after selling $3.7 million in BTC and now owes the government over $1 million in restitution.

The order also prohibits him from transferring, selling, or shifting any property without prior court approval.