D.C. Attorney General Karl A. Racine (D) on Wednesday announced a lawsuit against billionaire Michael J. Saylor and the technology company he co-founded, Plus, Taylor has made the stock far riskier by imposing gigantic leverage, and betting the company on the wager that Bitcoins price will soar, while its spent months in steep decline. Michael Lee Saylor in FL - Address & Phone Number | Whitepages D.C. Attorney General Karl Racine accused tech billionaire Michael Saylor of evading $25 million in district taxes in a lawsuit filed Wednesday. Saylor called Bitcoin Digital Property and highlighted its benefits for the global financial system. Offers may be subject to change without notice. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. The District has historically used the False Claims Act to go after contractors who overcharge or dont finish construction projects, for instance. Saylor responded to the lawsuit by stating, A decade ago, I purchased a historic home in Miami Beach and relocated my family there from Virginia. The risk of misreporting Saylors tax condition was offset by receiving no salary but increased benefits, which comforted the CFO. DC Accuses MicroStrategy Founder Of Income Tax Evasion The District suit alleges that Saylor effectively forged a devils pact with MicroStrategy to perpetuate the fraud. D.C. attorney general sues billionaire Michael Saylor for alleged 2023 Fortune Media IP Limited. Michael Saylor's House in McLean, VA (Google Maps) (#2) Instead, the lawsuit claims, he devised a plan to enlist the companys aid in hiding the fraud. Saylor, he asserts, voted in only three general elections in Florida, each time by absentee ballots mailed from his corporate offices in Virginia. WATCH: Watch CNBC's full interview with MicroStrategy CEO Michael Saylor at Bitcoin 2022. This includes an impairment charge of $903 million from its collection of approximately 130,000 Bitcoin. Saylor, who was worth over $2 billion in 2020, lost his billionaire status in May as bitcoin and MicroStrategy shed value.
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