Bitcoin billionaire Michael Saylor settles DC tax fraud case for $40 million

Billionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, have agreed to pay $40 million to settle a tax fraud lawsuit brought by the Washington D.C. Attorney General's Office.

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. MicroStrategy also allegedly failed to pay the corporate taxes required for a company employing D.C. residents, of which Saylor was only one of several.by former D.C. attorney general Karl Racine. It was sparked by a 2021 whistleblower lawsuit that claimed Saylor had cheated on his taxes and bragged to his friends about it.

According to the attorney general's account, Saylor lived in the same luxury apartment building overlooking Georgetown's waterfront since at least 2005.

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