MicroStrategy Chairman Settles $40 Million Tax Fraud Charges

- MicroStrategy and Michael Saylor settle $40 million tax fraud case with D.C. attorney general. - Saylor accused of evading over $25 million in D.C. income taxes by falsely claiming residency. - MicroStrategy's role in helping Saylor evade taxes highlighted in the lawsuit. - Saylor disputes allegations, settles to avoid litigation burdens. - MicroStrategy shares rise 3% in pre-market trading following settlement news. - MicroStrategy's Bitcoin treasury and plans for decentralized ID solution mentioned in the article.
Summary :
MicroStrategy and its chairman Michael Saylor have agreed to pay $40 million to settle charges from the D.C. attorney general that the company and Saylor defrauded the district of millions in unpaid taxes. The lawsuit accused Saylor of failing to pay over $25 million in D.C. income taxes and falsely claiming to be a resident of lower-tax jurisdictions. MicroStrategy, known for its large Bitcoin treasury, has helped Saylor evade taxes he legally owes on hundreds of millions of dollars earned while living in D.C. Saylor disputes the allegations and settled to avoid the burdens of litigation. This settlement is the largest income tax fraud recovery in D.C. history.

Sources :

- Decrypt
- Coindesk
- CoinTelegraph
- TheBlock
- Blockworks