Bitcoin Firebrand Michael Saylor Responds to Allegations of Tax Fraud in Washington, DC
MicroStrategy CEO Michael Saylor responds to allegations of tax evasion by the Washington, DC Attorney General
Yesterday, AG Karl A. Racine announced that he is suing the Bitcoin (BTC) maximalist for living in Washington, DC for over 10 years but never paying taxes.
Racine is also naming MicroStrategy as a defendant in the multimillion-dollar lawsuit alleging assisting Saylor in committing tax fraud.
“Today we are suing Michael Saylor — a billionaire technology executive who has lived in the district for more than a decade but has never paid DC income taxes — for tax fraud.
We are also suing his company, MicroStrategy, for conspiring to help him evade taxes he legally owes on hundreds of millions of dollars he earned while living in DC.”
According to Racine, this lawsuit is the first under DC’s amended False Claims Act, which was passed in 2020 and added tax evasion to the law.
“[This is the first] Lawsuit filed under DC’s recently amended False Claims Act, which encourages whistleblowers to report residents who circumvent our tax laws by misrepresenting their residency…
With this lawsuit, we are warning residents and employers that if you enjoy all the benefits of life in our great city and refuse to pay your fair share of taxes, we will hold you accountable.”
Saylor recently responded to the allegations in a new report from Virginia Business, saying that while he’s a DC resident, he lives in Florida.
“A decade ago I bought a historic home in Miami Beach and moved my home there from Virginia.
Although MicroStrategy is based in Virginia, Florida, I live, vote and serve on juries, and it is the center of my personal and family life. I respectfully disagree with the District of Columbia’s position and look forward to a fair resolution in court.”
MicroStrategy also issued a statement in the report saying that the company had nothing to do with Saylor’s personal tax liabilities.
“The case is a personal tax matter involving Mr. Saylor. The company was not responsible for its day-to-day affairs and did not monitor its individual tax obligations. Nor has the company conspired with Mr. Saylor in the fulfillment of his personal tax obligations.
The District of Columbia’s allegations against the company are false and we will defend ourselves aggressively against this overstatement.”
Last month, Saylor resigned as CEO of MicroStrategy, a move the executive said had nothing to do with the software company posting nearly $1 billion in BTC losses in the second quarter of the year.
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