Dolce and Gabbana Sentenced for Tax Evasion.



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Fashion design duo Domenico Dolce and Stefano Gabbana were on Wednesday handed a suspended prison sentence of one year and eight months for hiding hundreds of millions of euros from the tax authorities.

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The case dates back to an investigation that began in 2008, when authorities unleashed a tax avoidance crackdown as the financial crisis began to bite. But the probe that ensnared the two designers is one of the few high-profile cases to come to trial so far.

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The judge on Wednesday ruled that the pair sold their brand to Luxembourg-based holding company Gado in 2004 to avoid declaring taxes on royalties of about 1 billion euros ($1.3 billion).

Given the complexity and length of the appeals process, they are unlikely to spend any time in jail.

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