One of the greatest bitcoin balances among publicly traded corporations belongs to MicroStrategy, a whale. The company and its founder and former CEO, bitcoin (BTC) expert Michael Saylor, are accused of engaging in tax evasion. Learn how much tax they were able to avoid.
Unpaid taxes totaling millions of dollars
Michael Saylor, the founder of MicroStrategy, is being sued. Karl Racine, the attorney general, did, in fact, tweet about the incident on August 31. He claimed Saylor is being sued by the federal court for allegedly avoiding more than $25 million in taxes in Washington. Michael Saylor is accused of lying and saying he lived in Virginia or Florida rather than Washington in order to avoid paying the royalties.
- The lawsuit filed against MicroStrategy and Saylor states, “ Defendant Saylor knowingly avoided paying income taxes he owed to the District by fraudulently claiming to be a resident of other low-tax jurisdictions while maintaining his domicile and his place of residence in the district. ”
According to this August 22 complaint, the bitcoin king resides in a very opulent apartment on the Georgetown waterfront. Additionally, since 2005, he has had many yachts docked on the Potomac shoreline in Washington. A number of social media posts from Saylor in Washington have also been provided as evidence.
Michael Saylor, a proponent of bitcoin, is accused with tax evasion by the District of Columbia. The CEO of MicroStrategy does not, however, view himself as guilty. I respectfully disagree with the District of Columbia’s perspective, and I look forward to a just outcome in court, the man stated. He stated that Florida, not Washington, has been his principal residence for the past ten years.