Gerber Kawasaki Wealth CEO Ross Gerber slams Peter Schiff after Gold Bug’s tax evasion scandal
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, took a dig at cryptocurrency skeptic Peter Schiff. Recent TweetClaiming that the latter has not yet detected bitcoin.
Schiff, a prominent US financial analyst, moved to Puerto Rico for tax benefits. Gerber says that the sleeping bug has tried to get him to visit the Caribbean island several times, but to no avail.
The 59-year-old liberal investor, who usually makes headlines for his controversial statements about cryptocurrencies, recently ran into tax problems. A bank regulator in Puerto Rico recently suspended the operations of Schiff’s boutique bank, called Euro Pacific Bank.
Schiff’s bank was allegedly used to enable money laundering and tax evasion. The regulator has said the financial commentator’s bank has a “long history” of non-compliance.One of the most popular Australian newspapers, The Age, revealed that the Euro Pacific became the first major target of an investigation called Operation Atlantis. The task force praised Puerto Rico’s recent move, claiming it would be a deterrent to other tax-evading banking institutions.
However, Schiff told The New York Times that the bank “did nothing wrong.”
Gold Bug claims that he was shocked by the suspension, claiming that he did not know the reason behind the move.
In December, Gerber compared Bitcoin and Ethereum to “cockroaches,” highlighting the staying power of those cryptocurrencies.