MicroStrategy and its founder Michael Saylor reach $40 million settlement

On June 3, according to DealBook's Lauren Hirsch, the U.S. Attorney General for the District of Columbia has reached a $40 million settlement with billionaire bitcoin investor Michael Saylor and his software company MicroStrategy for tax fraud, which is said to be the largest income tax fraud recovery case ever in the region. It is also the first lawsuit under the region's revised False Claims Act, which encourages whistleblowers to file tax evasion charges against residents who allegedly concealed their actual residence.