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Fashion News /// Dolce & Gabbana Designers Convicted of Evading Taxes of $1.3 Billion in Income

  • by Yoey
  • 7 Years ago
  • 1

MILAN — A Milan court on Wednesday convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion.

They were found guilty of failing to declare 200 million euros ($268 million) through a Luxembourg company to authorities and given a one year and eight months suspended jail sentence. They were ordered to pay a penalty of 500,000 euros (about $670,000) to tax authorities.

The court, however, acquitted them of misrepresenting income of 416 million euros (around $560 million) each, even though the statute of limitations had expired on the charge.

The designers have denied the charges. Defense lawyer Massimo Dinoia pledged to appeal the ruling, saying the fact the court issued an acquittal on a charge that had expired, instead of just letting it fall to the statute of limitations, “means the proof of their innocence is evident.”

Two years ago, a judge threw out a tax evasion and fraud case against the pair, whose label Dolce&Gabbana is a Milan fashion mainstay. Italy’s high court later ruled the designers could be prosecuted for tax evasion, though not for fraud.

Three other defendants, including two managers, were also convicted in the scheme and given suspended sentences of one year and four months. A sixth defendant was acquitted.

Source:Huffington Post 

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“Live good Drink good Eat good” Graduate of Dillard University majoring in Public Relations/Brand Imaging. A New Orleans Native but born in Memphis,TN. Was raised as a Air Force brat having lived before in Germany and visited frequently to countries like England and France. While living in Europe a love for fashion and all things extravagant became a lifestyle easy to embrace. Returning to New Orleans fashion still played a major role in life for him. Now partnering with long time friend Nick to create the chic cultural blog site Myhellofalife.com Yoey is focused more than ever on making his dreams a reality, while doing what he enjoys the most; enjoying a hell of a life.

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