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Offers may be subject to change without notice. Why then does it defy gravity? 2023 CNBC LLC. All Rights Reserved. Washington, DC, Attorney General Karl Racine today announced that he is filing civil charges against cloud computing software company MicroStrategy and its founder Michael Saylor over alleged tax fraud. D.C. Attorney General Karl A. Racine (D) on Wednesday announced a lawsuit against billionaire Michael J. Saylor and the technology company he co-founded, Michael Saylor By using this website you agree to our terms and conditions and privacy policy. We've received your submission. MicroStrategy had multiple sources of information regarding Saylors true location and residency, but that the company actively conspired with Saylor to enable his fraud, including by filing inaccurate W-2s with the address of his property in Florida rather than his home in DC, and by failing to withhold and remit DC taxes, the attorney generals office said. The district law incentivizes whistleblowers to report tax fraud and allows the court to impose penalties up to three times the amount of the evaded taxes, according to the AG's office. Barrett in 1928, has 13 bedrooms and 12 bathrooms, as well as a 150-person grand ballroom. Simply put, MicroStrategy is a meme stockand an especially resilient one as a result of Saylors cult following. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. The District of Columbia's claims against the Company are false and we will defend aggressively against this overreach.". Share. The first action was brought by the whistleblower in August 2021, charging Taylor with fraudulently avoiding $25 million in payments. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Its the same story in a way of a classic Greek tragedy, Don Griffith, a childhood friend of Saylors, told The Washington Post in 2002. Its the story of Icarus and Daedalus. Mike was the guy who flew too close to the sun. Saylor held on as CEO of MicroStrategy and improbably returned the company to profitability in the following years. You may change or cancel your subscription or trial at any time online. By consenting to have MicroStrategy declare his genuine residence, Saylor did not appease his CFO. MicroStrategys Michael Saylor is leaving his role as CEO to become Executive Chairman of the company, according to a statement released by the company on Tuesday afternoon. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden.