Shocking news from Italy! Two of the most famous fashion designers of this generation, have been found guilty of tax evasion on a gigantic scale. Just today, Domenico Dolce and Stefano Gabbana were fined and also sentenced to 20 months in prison. The “solid evidence” confirms that the duo has evaded around 400 million euros on a one billion business deal – the sale of 2 of their brands based in Italy to a company they founded in Luxembourg, in order to avoid the high Italian tax rates.
Even though the two designers passionately deny the charges, the fact that they both signed the contracts for the sale of the brands, makes them “active participants” and therefore guilty.
Dolce and Gabbana’s lawyers said that an appeal will be launched and for now the famous duo will stay out of prison.
The whole process started during 2007 and a court has already cleared the allegations against the designers. However Italy’s highest court overturned the ruling. In other words it might be a while before we see Domenico and Stefana in orange. Maybe in a couple of fashion weeks?
