Chain Catcher reported that according to the New York Times, the Attorney General of the District of Columbia reached a $40 million settlement with billionaire Bitcoin investor Michael Saylor and the software company MicroStrategy he founded to end a lawsuit accusing them of evading income taxes.
The official said the settlement is the largest income tax fraud recovery ever filed in the District. It is also the District’s first prosecution under the revised False Claims Act, which encourages whistleblowers to bring tax evasion charges against residents they believe are hiding where they actually live.
The lawsuit alleges Saylor evaded more than $25 million in income taxes. The attorney general sued the tech executive and MicroStrategy in 2022, alleging that he used the company's help to file false tax forms from 2005 to 2020.
