400 million euros of tax evasion, two brand-billionaire to jail

 
A court in Italy on 19/6 was sentenced to two billionaire luxury fashion and is the founder of Dolce & Gabbana brand is famous, every 20 months in prison due to tax evasion of 400 million euros.


    Domenico Dolce and Stefano Gabbana, the designers world-renowned clients are many big stars like Angelina Jolie, Beyonce, Scarlett Johansson and Naomi Campbell have been concluded are guilty of the sale are two brand D & G and Dolce & Gabbana 1 billion euros for a company in Luxembourg in 2004.

     

                                           Gabbana (left) and Dolce are facing imprisonment

    

    According to the UK Telegraph, the Italian prosecutors confirmed that the sale of the brand to Gado, a company the two billionaires created, they can be helped to avoid higher tariff rates in Italy and not only pay a lower tax rate in Luxembourg. This was considered a fraudulent Italian Government.

    

    There is evidence "very sure" that Dolce and Gabbana have joined an "sophisticated fraud," prosecutors said Laura Pedio before a court in Milan.

    

    The design, which is the backbone of the Italian fashion industry, alongside brands such as Versace, Valentino and Armani, "actively participate" in the tax evasion, has "signed sales contracts the brand, "she said Pedio.

    

    Prosecutor confirms Gado, was taken by the first two letters of the name of Dolce and Gabbana, just a "ghost company". Therefore, the prosecutor suggested the court sentenced to 2.5 years in prison sentence for the defendant.

    

    Of the trial judge, Antonella Brambilla, has ordered two designs each fined 500,000 euros for remediation. According to Reuters, this is only the first stage payment of fines can be up to 10 million euros.

    

    The lawyer representing two billionaires will study confirms the judgment and filed an appeal. "We will definitely appeal because we strongly believe in their innocence", Massimo Dinoia, a lawyer for three of the defendants asserted.


    According to Forbes magazine, as of May 3/2013, Dolce and Gabbana each block owns assets worth about $ 2 billion.

    

    Both the immediate future will be free pending appellate review. They can apply for a maximum of two levels of appeal before the judgment to enforce.

    

    The case was Italian authorities investigating since 2007. But since then both are designers denies all accusations and claims the allegations against him is based on "a completely abstract calculation" of the market value of their companies.

    

    A court in Italy had claimed both innocence before the allegations in 2011, but then Italy's Supreme Court has rejected and requested a retrial.

    

    Two renowned designers are often inspired his work from the island of Sicily, where Dolce was born in 1958. Collection is their first debut in 1985 in Milan, home of Gabbana, who is 50 years old. Their brand became famous around the world in the 1990s. And as of 2011, revenues reached nearly 1.5 billion euros.