June 20, 2013

D&G sent to Jail {Tax Evasion}

This really boggles my mind! Why is it that seriously wealthy/successful people avoid paying taxes?? Designer Duo Domenic Dolce and Stefano Gabbana on Wednesday were handed a suspended prison sentence for one year and eight months for hiding hundreds of millions of euros from the tax authorities. 

They were not present in court in Milan and have denied their charges. But given the complex appeals process they are probably unlikely to spend any time in jail. The prosecutor has asked for two and a half years but the judge gave them a suspended sentence. They sold their brand to Luxembourg based holding company Cado in 2004 to avoid declaring taxes on royalties of about 1 billion euros (1.3 billion).

Source {yahoo}

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