According to Forbes, a Milan judge will hear from Italian tax officials who claim the two evaded over $500 million in taxes on over $1 billion in royalties when they sold their brands to their own Luxembourg-based holding company in 2004. If found guilty, the designers could face five years in jail and a hefty fine.
Let’s hope Italy’s most successful designers won’t be adding prison jumpsuits to their portfolios. -Vicki Valery
Photo Credits: Getty