York County man accused in ‘complex cryptocurrency scheme' pleads guilty
YORK COUNTY, Pa. (WHTM) — A York County man accused of omitting more than $13 million in cryptocurrency income on his tax returns has pleaded guilty.
Waylon Wilcox, 45, of Dillsburg, was charged in March with two counts of filing false income tax returns.
According to the U.S. Attorney's Office for the Middle District of Pennsylvania, he pleaded guilty Wednesday.
He was accused of underreporting his income by about $8.5 million for 2021, reducing his tax due by $2.1 million. In 2022, he underreported by $4.6 million.
Most of the underreported income came from buying and celling digital artwork — non-fungible tokens, or NFTs.
'IRS Criminal Investigation is committed to unraveling complex financial schemes involving virtual currencies and non-fungible token (NFT) transactions designed to conceal taxable income,' said Philadelphia Field Office Special Agent in Charge Yury Kruty. 'In today's economic environment, it's more important than ever that the American people feel confident that everyone is playing by the rules and paying the taxes they owe.'
The case was investigated by the Internal Revenue Service, Criminal Investigation.
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The maximum penalty is six years in federal prison, a term of supervised release, and a fine.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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