- Michael Sayer and Microstrategy are being sued by DC
- The complaint alleges that the former CEO hatched a conspiracy to evade tax in connivance with the company.
- The lawsuit seeks more than $25 million in back-taxes and penalties.
Microstrategy, the largest corporate holder of bitcoin, and its executive chairman Michael Sayer are being sued by the District of Columbia (DC) for alleged tax fraud. Announcement from DC Attorney General
The complaint alleges that Sailor knowingly evaded income tax to DC while fraudulently maintaining his residence in DC by claiming to be a resident of a lower tax jurisdiction, the complaint alleges that the microstrategy deliberately evaded local and Conspired with Sayer by obfuscating his real address of federal tax. officials.
“On information and belief, from 2005 to the present, Sayer has avoided arrears of more than $25 million in district taxes,” the complaint reads.
In addition, the complaint recounts the events of the 1980s when Sayler originally founded the company, anchored for several years in the Potomac River, to relocate the company’s headquarters to avoid tax burdens in the 90s. For your regular use of boats.
“The defendant Salar has been domiciled in the district, or a statutory resident of the district, or both, in each taxable year from 2005 to the present,” the lawsuit continues.
The complaint claimed that Sailor also made several “contemptuous” social media posts on Facebook, supporting the claim that he lived in the area from 2005 to the present.
Recently, it was announced that Saylor would be stepping down from the aforementioned role of CEO to take over as executive chairman. The move was intended to enable Seller to continue focusing on bitcoin initiatives in the ecosystem, as well as to continue Microstrategy’s bitcoin acquisition strategy.