MicroStrategy’s Michael Saylor Charged With Tax Evasion

• D.C sued Michael Saylor for allegedly claiming other residences.
•  Michael Saylor failed to pay more than $25 million in income taxes.

Washington, D.C. sued MicroStrategy’s co-founder and Executive Chairman Michael Saylor on Wednesday for tax fraud. District of Columbia claiming that he failed to pay over $25 million in income taxes despite living in the district for more than ten years. MicroStrategy is the largest bitcoin holding company.

According to the lawsuit, MicroStrategy acknowledged that Saylor spent more than half the year living in Washington, D.C., since 2005, which would legally make him a resident there. However, the lawsuit claims that the company failed to withhold and send D.C. taxes and that it filed incorrect tax returns with his Florida address.

Following that, D.C. sued MicroStrategy, a software company with offices in Tysons Corner, Virginia, for allegedly helping him avoid taxes. And D.C. Attorney General Karl Racine tweeted about the lawsuit.