BRENTWOOD, Tenn. (WKRN) — A Brentwood attorney accused of failing to report millions of dollars in income from the sale of cryptocurrency has pleaded guilty to federal charges, officials said.
According to the U.S. Department of Justice, 54-year-old David Gebhardt bought cryptocurrency but used “decentralized exchanges and nominees” to hide his income from those investments.
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From March 2018 to December 2022, Gebhardt reportedly withdrew approximately $6.6 million in funds from his cryptocurrency sales. Officials said even though he was warned by his accountants to report his cryptocurrency income on his tax returns, he failed to do so.
“On his 2020 through 2022 returns, he indicated that he did not engage in virtual currency transactions when, in fact, he did,” wrote the DOJ in a release about the incident…