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Image Source: IANS
Real Madrid Boss Carlo Ancelotti Facing Five-year Prison Sentence Over Alleged Tax Fraud; Reports
Real Madrid: Real Madrid's head coach Carlo Ancelotti has been accused of defrauding the Treasury of over 1 million euros during his tenure between 2014 and 2015 as Real Madrid manager, says a report.
According to Relevo (Spanish sports website), Ancelotti now faces the grim prospect of a jail sentence of four years and nine months and the ignominy of a tainted reputation.
"The charges stem from allegations that Ancelotti failed to declare income from his image rights in his tax returns, instead channeling the funds through a company named Vapia Limited. Prosecutors contend that Ancelotti orchestrated a scheme to conceal his earnings, transferring his image rights to Vapia for a substantial sum and subsequently omitting the corresponding income from his tax filings.
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