Italy's Berlusconi Sentenced to Jail for Tax Fraud

Friday, 26 Oct 2012 11:11 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
An Italian court on Friday sentenced former prime minister Silvio Berlusconi to four years in jail for tax fraud in connection with the purchase of broadcasting rights by his Mediaset television company.

Berlusconi has the right to appeal the ruling two more times before the sentence becomes definitive and will not be jailed unless the final appeal is upheld. Prosecutors had asked for a jail sentence of three years and eight months.

The court also ordered damages provisionally set at 10 million euros ($12.96 million) to be paid by Berlusconi and his co-defendants to tax authorities.

The ruling comes two days after Berlusconi, 76, confirmed he would not run in next year's elections as the leader of his centre-right People of Freedom (PDL) party.

A separate trial over accusations that Berlusconi paid for sex with an underaged prostitute is currently being heard in Milan. He denies all charges against him.

The four-time prime minister and other Mediaset executives stood accused of inflating the price paid for TV rights via offshore companies controlled by Berlusconi, and skimming off part of the money to create illegal slush funds.

The investigation focused on television and cinema rights that Berlusconi's holding company Fininvest bought via offshore companies from U.S. groups for 470 million euros between 1994 and 1999.

Angelino Alfano, secretary of the PDL, said the ruling proved once again "judicial persecution" of the media-magnate, while political rival Antonio Di Pietro, a former magistrate, hailed the decision, saying "the truth has been exposed."

The court acquitted Mediaset chairman and long-term Berlusconi friend Fedele Confalonieri, for whom prosecutors had sought a sentence of three years and four months.

Shares in Mediaset, Italy's biggest private broadcaster, fell as much as 3 percent after the ruling. ($1 = 0.7716 euros)

© 2014 Thomson/Reuters. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obama Executive Order Gives Pay Raise to Federal Workers

Friday, 19 Dec 2014 22:36 PM

Federal workers and uniformed military service members are getting a 1 percent pay boost. . . .

Mental Illness History Ruled on Appeal to Not Bar Gun Ownership

Friday, 19 Dec 2014 22:14 PM

A federal appeals court concluded that a history of mental illness shouldn't bar citizens from owning a weapon in a firs . . .

China Arrests US Aid Worker on North Korean Border

Friday, 19 Dec 2014 21:56 PM

China has arrested an American Christian aid worker based near its border with North Korea, his lawyer said Saturday, as . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved