The founders of the renowned fashion label Dolce & Gabbana have been sentenced to serve an 18- month jail term after being accused of tax fraud.
The New York Post reports that Domenico Dolce and Stefano Gabbana are accused of failing to pay tax on their income of more than 277 million dollars and creating fictitious companies in Luxembourg in their attempt to avoid heftier corporate tax rates in their home country.
“I am speechless. I am flabbergasted. We will definitely appeal” says the designers' lawyer, Massimo Dinoia.
Three Dolce & Gabbana managers, including Dolce’s brother, Alfonso, and a tax consultant were also sentenced to suspended prison terms ranging from 14 to 18 months.
The court has also upheld a fine of roughly 1 million dollars, seemingly a slap on the wrist in comparison to the 475 million dollars the pair were fined at the end of a civil lawsuit lat year.
Story via The New York Post.
