The attorney general for the District of Columbia reached a $40 million settlement with Michael Saylor and the software company he founded, MicroStrategy, in what the attorney general’s office said was the largest income tax fraud recovery in Washington history, The New York Times has learned.
The settlement, which is expected to be announced on Monday, stems from lawsuits filed in 2021 and 2022 accusing Mr. Saylor of evading more than $25 million in income taxes in Washington.
MicroStrategy and Mr. Saylor deny any wrongdoing.
They agreed to the $40 million settlement, which included interest and penalties, to avoid the expense and time of further legal action, according to the settlement, which The Times has reviewed.
Mr. Saylor, who is the executive chairman of MicroStrategy, stepped down as chief executive in 2022.
Persons:
Michael Saylor, Saylor, MicroStrategy’s, MicroStrategy, “ Michael Saylor, ” Brian L
Organizations:
District of Columbia, New York Times, Mr, MicroStrategy
Locations:
Washington, Virginia, Florida