Dolce and Gabbana Sentenced to 18 Months for Tax Evasion, Will Appeal

Wednesday, 30 Apr 2014 06:22 PM

By Ken Mandel

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Fashion designers Domenico Dolce and Stefano Gabbana have been sentenced to 18 months in jail after being convicted of tax evasion for withholding hundreds of millions of euros from the Italian government.

The reduced, suspended sentence originally assigned in June was upheld by an appeals court Wednesday, Reuters reported.

Editor's Note: Weird Trick Adds Up to $1,000 to Your Social Security Checks

Dolce and Gabbana, who make millions by designing clothes for celebrities and other wealthy customers, were charged with using a holding company to hide royalties of about $1.38 billion.

Attorney Massimo Dinoia said the pair plans to appeal.

"I am speechless," Dinoia told Reuters. "We are all shocked. The judgment is inexplicable and we will appeal."

Last week, Giorgio Armani settled a tax issue over the use of overseas subsidiaries, doling out $373 million.

Also, in March 2013, Italian police seized $60 million in assets from luxury goods group Bulgari over alleged tax evasion. They settled in February by paying $41 million.

Editor's Note: Weird Trick Adds Up to $1,000 to Your Social Security Checks

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