Spanish prosecutors call for Carlo Ancelotti’s jail term over tax fraud

Spanish prosecutors call for a 4-year, 9-month jail term for Real Madrid coach Carlo Ancelotti, accusing him of failing to declare earnings for the tax offenses

Spanish prosecutors Wednesday called for Real Madrid coach Carlo Ancelotti to be jailed for four years and nine months, saying he had failed to declare earnings to the tax office.

Madrid state prosecutor’s office accused the 64-year-old Italian of having cost Spain’s treasury more than one million euros in undeclared earnings from image rights in 2014 and 2015.

“Although he declared himself to be a tax resident in Spain and indicated that his home was in Madrid, he only declared in his tax returns the personal remuneration received from Real Madrid,” the tax office said in a statement.

It accused Ancelotti of setting up a “confusing” and “complex” system of shell companies to hide his extra earnings from image rights and other sources, such as real estate.

Prosecutors also alleged the Real Madrid coach “simulated” the transfer of his image rights to entities “without any real activity” based outside of Spain to maintain “opacity vis-a-vis” the Spanish treasury.

In July, a Spanish court ordered Ancelotti- regarded as one of the greatest coaches of all time- to stand trial over the affair, but no date has been set.

Source: AFP

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