Call The Fashion Police! Designers Dolce & Gabbana Are Going To Jail For Tax Evasion
It looks like the rich and famous (and clad in beautiful Italian clothing) aren't immune to legal troubles.
Following a court ruling earlier today, Dolce & Gabbana designers Domenico Dolce and Stefano Gabbana were each sentenced to serve 18 months in jail for tax evasion.
The glamorous duo appeared in court to appeal last year's verdict that charged them of using Luxembourg holding company Gado in order to avoid paying taxes on royalties of approximately 1 billion euros, equating to 1.38 billion US dollars.
They had originally been sentenced to 20 months in prison and issued a fine of $10 million euros, but the punishment was scaled back in this Milan court's ruling because the statue of limitations applied to certain facts in the case.
Although there's no word on when Dolce & Gabbana will serve their time or if it will impact their clothing line (although we hear black and white stripes are chic these days), their lawyer insisted that the pair will file yet another appeal.
In an industry known for its excess, D&G is just the newest fashion company to be indicted on finance-related charges, as Giorgio Armani and Prada Holding both paid large fines to settle tax disputes over the past year.
H/T: Huffington Post, Photo Credit: WENN