Italian fashion designers Dolce & Gabbana have been sentenced to a year and eight months in prison for tax evasion, news agencies reported from Milan.
Domenico Dolce and Stefano Gabbana had been accused by Italian prosecutors of selling clothing brands to their wholly-owned Luxembourg-based holding company, Gado, for less than a third of their market value, back in 2004.
It's alleged that each avoided more than €416 million in taxes.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team