Michael Saylor stepped down from the position of Chief Executive Officer of Microstrategy a month ago; now, the Attorney General of DC has sued the Big Bull of Bitcoin over the allegations of fraud in tax evasion.
A complaint was filed on August 22nd in the Columbia District’s Supreme Court, but the news was disclosed on August 31st, Wednesday. Saylor has lived in the Columbian District for decades and made a lot of money from his businesses, but he has avoided paying $25 million in income taxes.
NEW: Today, we’re suing Michael Saylor – a billionaire tech executive who has lived in the District for more than a decade but has never paid any DC income taxes – for tax fraud.
— AG Karl A. Racine (@AGKarlRacine) August 31, 2022
Malicious ways adapted by the Bitcoin Big Bull to evade taxes
To obfuscate the tax evasion, Saylor has bought a vacation home in Florida and several other houses across the country with lower tax rates. Saylor has skillfully lied about where he lives so that he can avoid paying millions of dollars in taxes that DC law says he should pay.
DC law says that if a person sets up statutory residency or is domiciled in a district, they must pay taxes to that district. In Saylor’s case, that district is Columbia.
In the case that the District Attorney General has brought against Michael Saylor, it is clear that Saylor has been cheating on his taxes for 10 years and has cost the Columbian District hundreds of millions of dollars in tax money.Saylor has said that she lives in Florida, but the truth is that she lives in Columbia.
AG Racine also said on Twitter that Microstrategy plotted against the Columbian District and helped Saylor avoid paying taxes by letting him pretend that the company’s finances were getting worse. This way, Saylor has been able to avoid any disputes that have come up from not paying taxes for about a decade.