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Bitcoin tycoon Michael Saylor sets record, $40 million settlement!

According to the New York Times, prosecutors in the District of Columbia said they had reached a settlement of up to $40 million with Michael Saylor, a heavyweight in the Bitcoin field, and MicroStrategy, the company he founded.

Under the agreement, Saylor and his company agreed to pay a total of $40 million in a 2022 tax fraud case. This is the largest tax evasion lawsuit and settlement amount in the region to date.

Brian Schwalb, the U.S. Attorney for the District of Columbia, emphasized in a statement: "In the District of Columbia, no one, no matter how rich or powerful, will be allowed to be above the law. Searle not only violated the law, but also openly flaunted his tax evasion scheme and encouraged others to follow suit."

"Michael Searle and his company MicroStrategy have been defrauding the District and all its residents for many years." Searle said of the settlement agreement: "I agree to resolve this matter to avoid the continued burden of litigation for myself, my friends and family."

The U.S. Attorney for the District of Columbia accused MicroStrategy's founder Michael Searle of tax evasion of up to $25 million. In the lawsuit filed by the U.S. Attorney for the District of Columbia in 2022, Searle and MicroStrategy were accused of submitting false tax returns between 2005 and 2020.