Fashion Icons Dolce And Gabbana Convicted Of Tax Crime
Even high-brow fashion designers can run into some complicated money matters.
Italian designers Domenico Dolce and Stefano Gabbana, otherwise known as the popular label Dolce and Gabbana, have reportedly been convicted of a serious tax crime. The stylish duo were dealt a 20-month prison sentence and a hefty fine for allegedly tucking away hundreds of millions of euros from Italian tax authorities, according to Reuters
While not present for their court hearing in Milan Wednesday (June 19), D&G are set to appeal the case.
"Dolce and Gabbana will not go to jail now or ever," said Massimo di Noia, one of the pair's defense lawyers post-hearing.
Public prosecutor Laura Pedio says that an investigation conducted between 2004 and 2007 revealed that Dolce and Gabbana had set up a secret offshoot company in Luxembourg, costing Italy millions of euros in tax money, CNN reports.
On top of being sentenced to nearly two years in the pen, they were given a steep fine of 500,000 euros. The lawyers said in a statement that the court found Dolce and Gabbana innocent "of the accusation of having unfaithfully declared their earnings," even though they were convicted for tax evasion.
It wouldn't be tricking if the fashion icons got it since their chic designs have laced the likes of Kate Moss, Rihanna and Victoria Beckham. The two have been a household brand in fashion since 1985 when they debuted their first show in Milan.
No word on how the ruling will affect the company, if at all.