Most of us have heard of Andrew Tate and his many scandals. What a lot of people don’t know is that Andrew Tate can also add tax evasion and crypto scams to his long list of misdeeds.
The former kickboxer and social influencer achieved infamy for his controversial remarks and his founding of “Hustler University.” However, disapproval and offense gave way to actual criminal charges when Tate was arrested for sexual assault and for running a vast human trafficking operation.
When asked why he moved to Romania, he claimed he found the country an attractive place to live because he felt their laws about human sex trafficking were relatively lax. The fact that Tate is sitting in a Romanian prison hardly bolsters that argument.
The Crypto Dimension to Andrew Tate’s Crimes
In addition, there is a crypto dimension to Tate’s crimes. He often boasted about cheating more money out of the women he trafficked by claiming he had to withhold a certain amount for taxes as their employer.
That’s to say Tate thought it was ridiculous, not that the women believed he was a legitimate employer who would take care of tax reporting, but that they were so gullible as to think cryptocurrency is taxable.
However, it’s the tax authorities that will have the last laugh in the case of Andrew Tate. The IRS and Romanian tax authorities have said that income, even if it’s from cryptocurrency, is taxable. In fact, governments around the world are stepping up efforts to claim taxable funds hiding in bitcoin wallets, for more information crypto trace, cryptocurrency trace, fund recovery, Crypto Scam
Tate was exploiting people for virtual sex work. He was running a $ 650,000-a-month webcam business using 75 sex workers around the world. Tate said publicly he preferred using Chaturbate because it accepted and paid out money in cryptocurrency. What was the advantage of this? Andrew Tate assumed those funds weren’t taxable and couldn’t be traced.
In fact, investigators have been using crypto trace technology to link millions of dollars in cryptocurrency back to Andrew Tate and his webcam human trafficking operation. Although he thought he could run a crypto scam, be a human trafficker and escape the tax authorities thanks to the anonymity of the blockchain, Tate seems to be at least as naive as the people he exploited, and it looks like he’s going to pay the price.
Have You Lost Money in a Crypto Scam? Talk to Us
If you’ve made money in cryptocurrency, it’s important to be in contact with the tax authorities before they come looking for you. Contrary to popular belief, these funds are taxable. If, on the other hand, you’ve been robbed by a crypto scam, talk to crypto experts from BrokerComplaintRegistry who can bolster your case and make crypto recovery not just a hope, but a reality.