Bitcoin billionaire Michael Saylor settles DC tax fraud case for $40 million
Billionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, will pay $40 million to settle a tax fraud lawsuit brought by the Washington D.C. Attorney General, the AG's office announced Monday. Between 2005 and 2021, Saylor allegedly evaded over $25 million in District of Columbia income taxes by posing as a resident of lower-tax states like Florida and Virginia, Attorney General Brian Schwalb claimed in a 2023 civil complaint. Saylor's actual home, the suit alleges, was a luxury penthouse apartment in Washington overlooking the Georgetown waterfront, where he kept his yachts on the Potomac River. Saylor founded Virginia-based MicroStrategy in 1989 as a software consultancy and a pioneering data analytics firm, taking the company public in 199