Title:ITALY-DOLCE AND GABBANA ACQUITTAL Italy court clears designers Dolce and Gabbana in tax evasion case
Date:24th October 2014
Summary:ROME, ITALY (FILE - 2012) (REUTERS)
VARIOUS OF ITALY'S TOP COURT, THE CORTE DI CASSAZIONE
Embargoed:8th November 2014 12:00
Story Text: Italy's top court cleared fashion designers Domenico Dolce and Stefano Gabbana on Friday (October 24) over charges of hiding hundreds of millions of euros from Italian tax authorities.
Two lower courts had previously convicted the pair, who are as famous as the stars they dress, for allegedly using Luxembourg holding company Gado to avoid paying taxes on royalties of about 1 billion euros ($1.27 billion).
In April, an appeals court gave a suspended sentence of 18 months in jail to the designers, who have always denied the charges.
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