Michael Saylor’s company MicroStrategy called the lawsuit against its former CEO “false” and claimed it would fight back aggressively.
Tax Evasion Lawsuit
The business analytics company has also been named in the lawsuit, which has brought tax evasion charges on ex-CEO and current Chairperson Michael Saylor. Responding to the lawsuit, the company has vehemently denied the charges that MicroStrategy conspired with Saylor to evade taxes in D.C. and stated that it would be fighting back the charges aggressively. The case against Saylor was initiated when an anonymous whistleblower filed a complaint against him under D.C.’s False Claims Act, claiming that Saylor was publicly flaunting his billionaire lifestyle while bragging about evading D.C. taxes.
The news of the lawsuit broke when the Attorney General’s office claimed that Saylor had evaded D.C. taxes by claiming false residence in Florida, a tax-free state. Instead, Saylor has been allegedly living in D.C. from 2005 to the present. The tweets also detailed that Saylor allegedly lived in a luxury penthouse in Georgetown, D.C., and had also moored several luxury yachts in on the Potomac riverfront.
The Bitcoin-bull has responded to these allegations and expressed his intention to fight back through proper legal channels. In a statement, Saylor has said,
“I respectfully disagree with the position of the District of Columbia and look forward to a fair resolution in the courts. Although MicroStrategy is based in Virginia, Florida is where I live, vote, and have reported for jury duty, and it is at the center of my personal and family life.”
Saylor has stated that he moved from Virginia to Miami Beach in Florida, where he purchased a historical home around a decade ago and has lived there ever since.
The lawsuit has also claimed that MicroStrategy was aware of Saylor’s dual living situation and that he was allegedly breaking the law by living in D.C. for most of the year without paying taxes. The lawsuit has also named the company as one of the defendants in the lawsuit, claiming that it allegedly filed inaccurate tax forms using his Florida address. The software company, which is now breaking into the crypto-space under Saylor’s leadership, has released a statement categorically denying such allegations.
“The case is a personal tax matter involving Mr. Saylor. The Company was not responsible for his day-to-day affairs and did not oversee his individual tax responsibilities. Nor did the Company conspire with Mr. Saylor in the discharge of his personal tax responsibilities. The District of Columbia’s claims against the company are false and we will defend aggressively against this overreach.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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