Tag Archives: tax evasion

Dolce and Gabbana Guilty Of Tax Evasion

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The two iconic Italian fashion designers, Domenico Dolce and Stefano Gabbana, were both found guilty this week of evading taxes on $1.3 billion in income. The case dates back to 2004 when the pair sold Dolce & Gabbana’s main two brands to a Luxembourg-based holding company. Prosecutors claimed that this was done to avoid paying taxes on the profit from the brands. It makes a lot of sense considering that corporate tax rates in Luxembourg are basically zero. Dolce and Gabbana have been sentenced pay a hefty fine and one year and eight months of jail time each, but this means essentially nothing in Italy. The two are allowed to appeal this verdict twice, which could take years. Even if they are forced to serve time, sentences that are less than two years are served under house arrest or community service. Keep reading »

Pig Gets Out Of Pen

Hide your barely legal daughter, the Girls Gone Wild CEO is out of jail. After 11 months in prison, Joe Francis is as free as a drunk sorority girl at Mardi Gras. He posted $1.5 million dollars bond in Reno and will now stand trial for tax evasion in Florida. However that’s just the tip of the charges. What started as 73 indictments in Panama City for taping underage spring breakers has crumbled to only four felony and two misdemeanor charges and a civil suit by a group of seven women. The thirty-five year old millionaire claims the women lied about their ages and his lawyers promised none of their footage was used. He refuses to settle out of court because he insists his actions are all within the letter of the law and the judge was biased because his former business partner was the prosecuting attorney. So what’s our verdict? Legal mumbo jumbo aside, those chickadees did sign a contract in their urge to get on camera and now he’s paying the price for their 15 minutes. Sure it’s sad and gross that this is the way he makes his millions, but technically it’s legal. You can read the full sob story on Francis’ website. We doubt you’ll feel sorry for him — we don’t — but the whole mess seems like one enormous battle of the boobs. [Beijing News] Keep reading »

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