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D.C. Attorney General Says They are Suing Microstrategy and CEO Saylor

Stock Markets Aug 31, 2022 15:32
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By Sam Boughedda

Microstrategy, Inc. (NASDAQ:MSTR) CEO Michael Saylor is being sued by D.C., according to tweets from Attorney General Karl Racine.

In a thread posted today, Racine said they are suing Michael Saylor — "a billionaire tech executive who has lived in the District for more than a decade but has never paid any D.C. income taxes - for tax fraud."

In addition, they are also suing MicroStrategy for "conspiring to help him evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in D.C."

The Attorney General explained that it is the first lawsuit brought under D.C.’s recently amended False Claims Act, which encourages whistleblowers to report residents who evade tax laws by misrepresenting their residence.

"With this lawsuit, we’re putting 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," concluded Racine.

MicroStrategy shares are down more than 4% Wednesday.

D.C. Attorney General Says They are Suing Microstrategy and CEO Saylor
 

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