Michael Saylor to Stand as Defendant in Tax-Fraud Case

The Supreme Court of the District of Columbia denied MicroStrategy founder Michael Saylor’s motion to dismiss the income tax suit. Bloomberg reports.

The District of Columbia authorities filed a lawsuit against Saylor in August 2022, alleging that since 2005 he evaded paying income tax of more than $25 million. During this period, the entrepreneur allegedly claimed that he was a resident of other jurisdictions with lower rates, including Virginia and Florida.

The complaint states that all this time Saylor resided in Washington, in a “luxury penthouse” in the historic Georgetown neighborhood. He also owns several yachts docked on the Potomac River waterfront.

Separately, the court dismissed two other lawsuits against Saylor and MicroStrategy for allegedly conspiring to violate the District of Columbia False Claims Act.

The founder himself rejected the tax-fraud charges, saying that he indeed resides in Florida.

“With all due respect, I still disagree with the district’s position on the remaining claims and I will continue to defend myself. I look forward to a proper resolution to this case,” he added.

The next hearing is scheduled for March 10.

According to Bitcoin Treasuries, MicroStrategy holds 132,500 BTC. The latest purchase 2501 BTC for $44.6 million was recorded in December 2022.

Earlier, Michael Saylor confirmed the course for further purchases of digital gold, despite the ongoing decline in the crypto market.