(Bloomberg) — Justin Ryan Schmidt, a founder of a hedge fund focused on cryptocurrency investments, was sentenced to 37 months in prison for evading taxes after renouncing his US citizenship, US authorities said.
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Schmidt, 46, was sentenced Monday in federal court in Austin, Texas, where he pleaded guilty this year. Schmidt, who ran Translunar Crypto LP, falsely reported earning income of less than $5,000 in 2020, 2021 and 2022. He actually earned more than $7 million from his hedge fund from 2019 to 2022, prosecutors said in court papers.
He gave up his US citizenship in March 2022 and expatriated to the Cayman Islands, filing a false tax return on his net worth at…
