Washington, D.C.'s attorney general has filed a lawsuit against billionaire Michael Saylor and his former company MicroStrategy for tax fraud.
tech executiveD.C. Attorney General Karl Racine announced the lawsuit Wednesday, alleging that Saylor has lived in the district for more than a decade but has never paid anyRacine said his office was suing Saylor's former company, MicroStrategy, for "conspiring to help evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC."
CRYPTOCURRENCY FRAUD PREVENTION: HOUSE PANEL CALLS ON REGULATORS TO EXPLAIN HOW THEY'RE PROTECTING CONSUMERS Racine said it was the first lawsuit brought under Washington D.C.’s False Claims Act, encouraging whistleblowers to report residents who evade Washington's tax laws by misrepresenting their residence.
"With this lawsuit, we’re putting the residents and employers on notice that if you enjoy all the benefits of living in our great city while refusing to pay your fair share in taxes, we will hold you accountable," Racine said. Michael Saylor, chairman and chief executive officer at MicroStrategy, speaks during the DC Blockchain Summit in Washington, D.C.has been posted online. It alleges that Saylor purchased a $13.1 million home in Miami Beach in July 2012 and later bragged to friends "that he had avoided District personal income taxes by purchasing a home in Florida."
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