Carlo Ancelotti sentenced to one-year prison term for tax fraud

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Carlo Ancelotti sentenced to one-year prison term for tax fraud

4 months ago

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REUTERS

BBC

ALJAZEERA

AFRICANEWS

Carlo Ancelotti sentenced to one-year prison term for tax fraud

Credited from: ALJAZEERA

Carlo Ancelotti sentenced to one year in prison for tax evasion.
A court fined him €386,000 and accused him of defrauding the state of €1 million.
Ancelotti will not serve jail time due to Spanish laws for non-violent crimes.

A Spanish court sentenced Brazil coach Carlo Ancelotti to a one-year prison term for tax fraud related to his time as Real Madrid manager in 2014. The court imposed a fine of €386,000 ($452,187) and accused Ancelotti of defrauding the state of €1 million ($1 million) between 2014 and 2015. Spanish law allows for suspended sentences for first-time offenders for non-violent crimes, thus he will not serve actual jail time, according to Reuters, BBC, Al Jazeera, and Africa News.

Prosecutors accused Ancelotti of using shell companies to conceal his true earnings, including one firm in the Virgin Islands lacking any substantial economic activity. They initially sought a sentence of up to four years and nine months for two counts of tax fraud, according to Reuters and Africa News.

Ancelotti, who is considered one of football's most successful managers, has previously stated he "never thought about committing fraud," attributing the mishap to reliance on his financial advisors during his tenure at Real Madrid. The Brazil Football Confederation is currently monitoring the situation but has not released an official comment yet, according to BBC and Al Jazeera.