Crypto Giant Accused of Evading Taxes

Crypto Giant Accused of Evading Taxes

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Jonathan
Jonathan

An editor at Coincrop


02 Sept 2022 | 2 min read
9,711 views

T

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.”


Jonathan

Jonathan

An editor at Coincrop
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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.


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