Washington, D.C. General Attorney, Karl Racine is suing billionaire tech executive Michael Saylor and his former company MicroStrategy for alleged tax fraud. D.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 any Washington, D.C., income taxes.
Racine said his office was suing Saylor’s former company, MicroStrategy, for “conspiring to help (Saylor) evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC.” 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. A copy of the lawsuit 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.” Saylor, who oversaw MicroStrategy’s push into bitcoin, stepped down as CEO earlier this month, following a reported $1 billion second-quarter loss amid a plunge in cryptocurrencies.
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