Hello Fabs ! I hope all is well and that you are staying fabulous as usual. The design duo comprised of Domenico Dolce and Stefano Gabbana (the faces behind the brand Dolce and Gabbana) are officially facing jail time for crimes of tax evasion.
An Italian court on Wednesday sentenced fashion design duo Domenico Dolce and Stefano Gabbana to one year and eight months in prison for hiding hundreds of millions of euros from the tax authorities.
Back in 2010, the designers were accused of setting up a holdings company in Luxembourg to avoid declaring over 840 million euros ($1.1 billion) in sales to the Italian government. The government then indicted the duo for tax evasion and later had a lower court drop the charges a couple of months after due to lack of evidence, only to have it opened back in 2011.
Now the duo, and their accountant, are facing some jail time, as they are being charged for omitting unfaithful earnings declarations, specifically related to the 2004 sale of the Dolce & Gabbana and D&G brands to the designers’ Luxembourg-based holding company, Gado Srl.
until next time ..
fierce and love