AG Racine suing Michael Saylor and MicroStrategy

[Anonymous]

Anonymous wrote:I don't know much about Racine so I have no opinion of him. My guess is Saylor really was in DC > 6 months/year, meaning he'd be a resident, but lied on his taxes. Most people who do this keep a logbook, and I'm guessing he falsified it. They are using the flight logs from his private plane and the geotags on his social media posting to prove he was in DC longer than he claimed.

His accountants probably aren't aware of any falsification of logs.

The real tell is that the AG included MicroStrategy as a defendant. You wouldn’t do that unless you have an inside whistleblower who is bringing receipts and had knowledge of the cooperation by the company to help Saylor violate the law. It’s very rare for a personal tax evasion case to ensnare a public company.

I bet Saylor settles with a big fine.

[Anonymous]

https://www.bizjournals.com/washington/news/2023/03/03/michael-saylor-income-tax-microstrategy-bitcoin.html

A D.C. Superior Court judge rejected a motion by MicoStrategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor to dismiss a lawsuit alleging he failed to pay District income tax despite living in the city for more than a decade.

[Anonymous]

Anonymous wrote:https://www.bizjournals.com/washington/news/2023/03/03/michael-saylor-income-tax-microstrategy-bitcoin.html

A D.C. Superior Court judge rejected a motion by MicoStrategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor to dismiss a lawsuit alleging he failed to pay District income tax despite living in the city for more than a decade.

The article is behind a paywall, but the headline indicates some of the charges were dismissed summarily.

Meanwhile, Racine isn't even the AG any longer.

[Anonymous]

Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

[Anonymous]

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

good job DC! the idea that some billionaire would try to rip us off is just …

[Anonymous]

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

Don’t be coy. Saylor agreed to pay DC $40 million. No one does that unless they have some real potential liability.

[Anonymous]

Saylor settles with DC government for $40m. Falsely claimed residency in Florida when he was living in DC the entire time. His publicly traded company appears to have facilitated his personal tax fraud.

https://www.nytimes.com/2024/06/03/business/dealbook/microstrategy-michael-saylor-tax-fraud.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

Don’t be coy. Saylor agreed to pay DC $40 million. No one does that unless they have some real potential liability.

Defendants were both Sailor and Microstrategy. Both parties agreed to a settlement without admission of guilt or wrongdoing, as the consent order states, “to avoid the time, expense, and inconvenience of any further
litigation”.

The litigation was not even brought by DC. DC hired a private company to pursue the case on their behalf and it is not disclosed how much DC will actually keep, if anything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

Don’t be coy. Saylor agreed to pay DC $40 million. No one does that unless they have some real potential liability.

Defendants were both Sailor and Microstrategy. Both parties agreed to a settlement without admission of guilt or wrongdoing, as the consent order states, “to avoid the time, expense, and inconvenience of any further
litigation”.

The litigation was not even brought by DC. DC hired a private company to pursue the case on their behalf and it is not disclosed how much DC will actually keep, if anything.

huh? you mean DC hired outside counsel? or are you trying to refer to the qui tam plaintiffs? in any event nobody settles for $40 mil unless they did it. we all know that. especially rich people!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

Don’t be coy. Saylor agreed to pay DC $40 million. No one does that unless they have some real potential liability.

Defendants were both Sailor and Microstrategy. Both parties agreed to a settlement without admission of guilt or wrongdoing, as the consent order states, “to avoid the time, expense, and inconvenience of any further
litigation”.

The litigation was not even brought by DC. DC hired a private company to pursue the case on their behalf and it is not disclosed how much DC will actually keep, if anything.

huh? you mean DC hired outside counsel? or are you trying to refer to the qui tam plaintiffs? in any event nobody settles for $40 mil unless they did it. we all know that. especially rich people!

No. The case was brought on behalf of DC by a company called Tributum LLC. The consent decree specifically stipulates that DC will direct the Defendant to make payment in an unspecified amount directly to an escrow account controlled by Tributum LLC under a separate agreement between DC and Tributum LLC. The amounts and terms of that agreement were not disclosed. Furthermore, the funds paid to DC will not go to the general fund but will go to and be solely controlled by the DC AG.

Y’all are celebrating while Schwalb is making secret deals with companies and running a slush fund outside Council control.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now Saylor has agreed to pay DC $40 million

https://oag.dc.gov/sites/default/files/2024-06/2024.05.31%20Consent%20Order_Bilateral_signed.pdf

So much for the posters claiming this lawsuotw was groundless— maybe they are the same ones thinking Trump did nothing wrong

Don’t think you bothered to read the consent order.

Don’t be coy. Saylor agreed to pay DC $40 million. No one does that unless they have some real potential liability.

Defendants were both Sailor and Microstrategy. Both parties agreed to a settlement without admission of guilt or wrongdoing, as the consent order states, “to avoid the time, expense, and inconvenience of any further
litigation”.

The litigation was not even brought by DC. DC hired a private company to pursue the case on their behalf and it is not disclosed how much DC will actually keep, if anything.

huh? you mean DC hired outside counsel? or are you trying to refer to the qui tam plaintiffs? in any event nobody settles for $40 mil unless they did it. we all know that. especially rich people!

No. The case was brought on behalf of DC by a company called Tributum LLC. The consent decree specifically stipulates that DC will direct the Defendant to make payment in an unspecified amount directly to an escrow account controlled by Tributum LLC under a separate agreement between DC and Tributum LLC. The amounts and terms of that agreement were not disclosed. Furthermore, the funds paid to DC will not go to the general fund but will go to and be solely controlled by the DC AG.

Y’all are celebrating while Schwalb is making secret deals with companies and running a slush fund outside Council control.

The council can get control of that money if it wants to, and the existence of the relator is not news.

[Anonymous]

False Claims Act means the relator gets 25% and DC gets 75%

[Anonymous]

Anonymous wrote:

Joined: 11/12/2007 23:38
Messages: 46030
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Anonymous wrote:
Well, MicroStrategy is based out in Tyson's and Michael Saylor has a house out there too. If there's where he works and spends most of his time, then he doesnt owe jack in income taxes to the District. Karl Racine is a joke. He should maybe focus on prosecuting some actual local criminals instead of dreaming up these silly lawsuits against Facebook, Google, et al that appear to be little more than desperate bids for press attention.


Criminal law enforcement is the jurisdiction of the US Attorney, not Racine (except for juveniles).

Racine just one a $4 million judgement against ghost gun manufacturers.

He just won a $2.54 million settlement with Instacart.

He got apartment owners to pay millions to resolve health and safety issues in their buildings.

He is a pretty good joke I guess.

And I don't disagree with this except that Racine's refusal to prosecute juvenile crime has been probably the most significant factor in the District's crime spike over the last year or two. The nutty Council is certainly at fault as well but the combination of the Council AND Racine has resulted in a complete sense of impunity for criminals and a demoralized police force that simply doesn't much bother. Will be so glad to see Racine go.

Agree 100%.

[Anonymous]

This is actually a common legal strategy. Even if you don’t agree with the tax authorities residency determination, it oftentimes makes sense to settle with them for a portion of he assessment rather than continue to fight it in court and risk paying the full amount plus interest an penalties.