Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
Austin Fund Manager Faces $6M Tax Evasion Charges
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe25 FEB 2026 / ACCOUNTING & TAXES
U.S. Justice Department has brought several charges against Austin-based crypto hedge fund manager, Justin Ryan Schmidt. Accused of reporting only $5,000 of income per year while earning over $6 million and moving funds offshore, Schmidt has been indicted with unreported hedge fund income, expatriation filing irregularities, failing to disclose foreign bank accounts, and attempting to bypass withholding taxes on a real estate flip. The charges have drawn attention to the challenges the IRS faces when dealing with digital assets in offshore structures and resulting income reporting.
A few years ago, if someone told you a crypto hedge fund manager reported $5,000 of annual income while moving millions offshore, you would assume it was a bad Netflix script. Instead, it is now a federal indictment out of the Western District of Texas. T...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
-1790696521.webp)
-1790682118.webp)
