The ex-head of the largest owner of the bitcoin cryptocurrency will be tried for tax evasion

Attorney General of the District of Columbia (USA) Carl Racine has filed a lawsuit against the founder of the cryptocurrency company MicroStrategy, Michael Saylor. The official claims that Saylor allegedly did not pay any income taxes for 10 years. Reisin noted that his office is also suing MicroStrategy «for conspiracy to evade taxes that Saylor owes while living in Washington.» After the prosecutor’s tweets, MicroStrategy shares fell by more than 4%.

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

Responding to the official’s accusations, Saylor said that MicroStrategy is headquartered in Virginia. «The state of Florida is where I live, vote and serve on juries, it is the center of my personal and family life,» he said. «With all due respect, however, I disagree with the D.C. Circuit’s position and look forward to a fair decision in court.»

The attorney general’s office claims that Saylor forced MicroStrategy to report his Florida residence in documents filed with the Internal Revenue Service. MicroStrategy has also responded to the attorney general’s allegations: «The company was not responsible for the day-to-day affairs and did not control Saylor’s individual tax responsibilities,» MicroStrategy said. «Nor did the company conspire with Mr. Saylor. The District of Columbia’s claims against the Company are false.»

Attorney General Racine alleges that Saylor evaded more than $ 25 million in taxes to the District of Columbia and seeks treble damages.