Thursday 20 June 2013

Dolce & Gabbana Sentenced to Prison for Income Tax Evasion

Dolce & Gabbana
Music producer Pharrell Williams (pictured top center).
The gay couple behind one of the most well-known fashion brands in the world will be spending the next 20 months in prison. Domenico Dolce, 54, and Stefano Gabbana, 50, who founded the iconic fashion brand Dolce & Gabbana, were sentenced to 20 months in an Italian prison after they were convicted of evading taxes on €408 million ($540 million USD). According to UK’s Daily Mail, a judge in Milan ruled that the stylish couple failed to declare income of about €1billion ($1.3 billion USD), and that they moved their brand to Luxembourg to evade Italy’s corporation income tax.
Victoria Beckham and Dolce & Gabbana
Victoria Beckham (pictured above center)
Dolce & Gabbana were initially acquitted of tax fraud in 2011, but a judge overturned the acquittal when he discovered there was enough evidence to indict them. Prosecutors in Italy dropped the fraud charges and instead charged the couple with income tax evasion. Dolce & Gabbana met in Milan, Italy in 1980 when they worked for the same fashion house. They struck out on their own in 1982 and opened the doors of their first boutique in Milan in 1985. The fashion duo quickly became the preferred designers of celebrities including pop singer Madonna.
Madonna Dolce & Gabbana ad
Photos: Google Images

No comments: