A Milan court yesterday convicted Italian fashion designers Dolce & Gabbana to 20 months jail for tax evasion
DOMENICO Dolce and Stefano Gabbana, whose clients include Kylie Minogue, Angelina Jolie, Beyoncé, Scarlett Johansson and Naomi Campbell, were found guilty on Wednesday of evading around 400 million euros ($268 million) on a one billion euro business deal for the sale of their D&G and Dolce & Gabbana brands to holding company, Gado, in Luxembourg in 2004.
They were found guilty, given a one year and eight months suspended jail sentence and ordered to pay a penalty of 500,000 euros (about $670,000) to tax authorities.
The design duo, who are nearly as famous as the stars they dress, have denied the charges and will lodge an appeal against their conviction.
Read more here.
Labels: Dolce & Gabbanna