Italian fashion designers Domenico Dolce and
Stefano Gabbana, the men behind fashion power
house, Dolce & Gabbana were today June 19th
sentenced to one year and eight months in
prison by an Italian court after being found
guilty of tax evasion. They were also fined
€500,000.
The multimillionaire designers were accused of
hiding millions of euros from Italian tax
authorities, charges they deny and have said
they intend to appeal against any conviction.
Italian authorities are accusing them of moving
their brand to a Luxembourg-based holding
company Gado – in 2004, so they could avoid
declaring taxes on royalties of about 1 billion
euros.
The Italian authorities have been investigating
the designers for about six years now and they
were actually cleared of tax evasion/fraud
charges at a previous trial in April 2011 but
Italy’s highest court overturned that ruling,
ordering that the case be sent back to trial.
Their sentences have been suspended pending
their appeal.
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