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MicroStrategy Settles $40M Tax Fraud Case

Michael Saylor, a supporter of Bitcoin and the creator of MicroStrategy, has successfully reached a $40 million agreement with the District of Columbia. This settlement stands as the greatest ever recovery for cases involving income tax evasion in the district. The settlement was reached using the district's updated False Claims Act, which provides incentives for whistleblowers to uncover instances of tax evasion. The complaint alleges that MicroStrategy provided Saylor with security particulars and chauffeurs. Last month, MicroStrategy developed a new decentralized identity system called ‘MicroStrategy Orange’.

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