Crypto Giant Accused of Evading Taxes
Share this article
An editor at Coincrop
02 Sept 2022 | 2 min read
he lawsuit also names MicroStrategy as a defendant. Racine claims that MicroStrategy collaborated with Michael Saylor to avoid paying taxes. The state's attorney general's office said it is seeking to recover approximately $100 million in unpaid taxes and penalties.
Michael Saylor is said to have pretended he lived in Virginia or Florida- states with lower taxes- while really living in various places around D.C., like a Georgetown penthouse or his yacht by the Potomac River when his apartment was being worked on, per the lawsuit.
In a statement, MicroStrategy said, “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.”
CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.
Compare over 42,421 CeFi and DeFi products across more than 208 organizations here