AG Racine suing Michael Saylor and MicroStrategy

[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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

[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.

Tributum is the qui tam plaintiff, dummy.

[Anonymous]

Anonymous wrote:I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes.

Florida is very strict when it comes to residency. You'd better be prepared to show plane tickets, credit card bills, ez pass statements to actually prove you were in fla 6 months plus 1 day.

[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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

that is not how rich people reason. it’s absolutely clear that Saylor & Microstrategy faced very serious legal risk that Saylor could not make go away even with the best legal team.

[Anonymous]

It's not clear to me that Microstrategy is out of the woods. A public company facilitating an executive's tax fraud is a big no-no.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes.

Florida is very strict when it comes to residency. You'd better be prepared to show plane tickets, credit card bills, ez pass statements to actually prove you were in fla 6 months plus 1 day.

"Very strict" if you're trying to take advantage of in-state tuition at one of their universities. Or the first year in which you are claiming the Homestead Exemption. They really don't give a sh#t outside of those contexts.

What happens is that a very rich person will do six months + 1 day in their first year in Florida in order to have definitive proof they are out of their home state's tax regime. But they they play loosey-goosey with the days in-state after that as they travel back & forth to their home(s) and business(es) in higher tax jurisidictions.

Saylor should've just lived in Virginia on Chain Bridge and taken their 5.75% tax rate (roughly half of DC's income tax rate). Instead, he had to play fast & loose. It wouldn't surprise me at all if he gets audited by Virginia too for state income taxes.

[Anonymous]

Anonymous wrote:It's not clear to me that Microstrategy is out of the woods. A public company facilitating an executive's tax fraud is a big no-no.

yep.

[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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

that is not how rich people reason. it’s absolutely clear that Saylor & Microstrategy faced very serious legal risk that Saylor could not make go away even with the best legal team.

$40M is pocket change. Sorry. Racine is a small ant that went away with some peanuts thrown on the ground.

[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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

that is not how rich people reason. it’s absolutely clear that Saylor & Microstrategy faced very serious legal risk that Saylor could not make go away even with the best legal team.

$40M is pocket change. Sorry. Racine is a small ant that went away with some peanuts thrown on the ground.

So then we should pass stronger/possibly criminal laws so that rich people can’t just pay pocket change just so that they can freely screw the rest of us.

[jsteele]

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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

that is not how rich people reason. it’s absolutely clear that Saylor & Microstrategy faced very serious legal risk that Saylor could not make go away even with the best legal team.

$40M is pocket change. Sorry. Racine is a small ant that went away with some peanuts thrown on the ground.

Just FYI, Racine is not the AG. Your bona fides would be stronger if you knew the identity of our current attorney general.

[Anonymous]

Anonymous wrote:

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.

Tributum is the qui tam plaintiff, dummy.

Yes, which is why the post says that the “case was brought on behalf of DC”.

I do love that you are using a term but don’t seem to understand what it means.

[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

Lol. He makes that much in Bitcoin in only a few hours in a day. Prob paid it just to make the gnat Racine go away.

that is not how rich people reason. it’s absolutely clear that Saylor & Microstrategy faced very serious legal risk that Saylor could not make go away even with the best legal team.

$40M is pocket change. Sorry. Racine is a small ant that went away with some peanuts thrown on the ground.

lol no, $40 mil is not “pocket change.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Tributum is the qui tam plaintiff, dummy.

Yes, which is why the post says that the “case was brought on behalf of DC”.

I do love that you are using a term but don’t seem to understand what it means.

I understand very well what it means. The post was trying to suggest that because this was a false claims suit where the plaintiff is not DC, that somehow detracts from the wrongdoing against DC and amounts to a “secret deal with a private company” and a l”slush fund.” That’s just a laughably ignorant take on qui tam cases which have existed for almost 160 years as a way to address fraud on the federal government, with state analogues. A private individual (the relator) brings the case in court for fraud on the government. If the government things the case is solid, it intervenes in the case and proceeds in court. The relator gets a share of the settlement or judgment if any. https://en.m.wikipedia.org/wiki/False_Claims_Act_of_1863

About the only unique thing about this case is that the relator is a corporation. Apparently this has become common. I can see it as a way to protect yourself against liability from countersuit although I’m not sure how effective it would be.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Tributum is the qui tam plaintiff, dummy.

Yes, which is why the post says that the “case was brought on behalf of DC”.

I do love that you are using a term but don’t seem to understand what it means.

I understand very well what it means. The post was trying to suggest that because this was a false claims suit where the plaintiff is not DC, that somehow detracts from the wrongdoing against DC and amounts to a “secret deal with a private company” and a l”slush fund.” That’s just a laughably ignorant take on qui tam cases which have existed for almost 160 years as a way to address fraud on the federal government, with state analogues. A private individual (the relator) brings the case in court for fraud on the government. If the government things the case is solid, it intervenes in the case and proceeds in court. The relator gets a share of the settlement or judgment if any. https://en.m.wikipedia.org/wiki/False_Claims_Act_of_1863

About the only unique thing about this case is that the relator is a corporation. Apparently this has become common. I can see it as a way to protect yourself against liability from countersuit although I’m not sure how effective it would be.

Sure, all true. Except what does any of this have to do with the proceeds going back to the DC AG instead of the general fund?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Tributum is the qui tam plaintiff, dummy.

Yes, which is why the post says that the “case was brought on behalf of DC”.

I do love that you are using a term but don’t seem to understand what it means.

I understand very well what it means. The post was trying to suggest that because this was a false claims suit where the plaintiff is not DC, that somehow detracts from the wrongdoing against DC and amounts to a “secret deal with a private company” and a l”slush fund.” That’s just a laughably ignorant take on qui tam cases which have existed for almost 160 years as a way to address fraud on the federal government, with state analogues. A private individual (the relator) brings the case in court for fraud on the government. If the government things the case is solid, it intervenes in the case and proceeds in court. The relator gets a share of the settlement or judgment if any. https://en.m.wikipedia.org/wiki/False_Claims_Act_of_1863

About the only unique thing about this case is that the relator is a corporation. Apparently this has become common. I can see it as a way to protect yourself against liability from countersuit although I’m not sure how effective it would be.

Sure, all true. Except what does any of this have to do with the proceeds going back to the DC AG instead of the general fund?

I have no idea what you’re talking about. The money goes to the DC treasury as far as I’m aware.