May 02, 2014 06:31:36 GMT
The designers are accused of hiding millions of euros from tax authorities through a Luxembourg holding company and were given suspended sentence of 18 months in jail.
Italian fashion designers Domenico Dolce and Stefano Gabbana lost their appeal in a tax case on Wednesday, April 30. They were accused of hiding hundreds of millions of euros from authorities through a Luxembourg holding company Gado and were given suspended sentences of 18 months in jail. The sentence was reduced from 20 months because the statute of limitations applied to certain facts in the case.
The decision taken on Wednesday upheld a verdict in June. Dolce and Gabbana have denied that they were hiding hundreds of millions of euros from authorities. Back in March, a Milan prosecutor asked the court to clear the pair.
As quoted by WWD, their lawyer Massimo Dinoia said, "I am speechless and astounded, this sentence is inexplicable. After all, the general prosecutor already realized there was really nothing. We will surely present our appeal to the Corte di Cassazione. This is an unfair verdict and we are sure the Cassazione will reform it."
In other news, Dolce was recently spotted with Kylie Minogue at an event in Melbourne. Minogue wore a black ensemble by the label during their meeting, completing her chic looks with a black bag and matching heels.