Here we go again!
Dynamic design duo Domenico Dolce and Stefano Gabbana may face up to five years in jail for tax evasion according to recent reports.
evil geniuses behind Dolce & Gabbana will have to go before a Milan judge on three separate occasions this month and next as Italian tax officials seek to prove that the designers failed to pay over $500 million in taxes on royalties totaling over $1 billion that they made after selling their brands, Dolce & Gabbana and D&G, to their own Luxembourg-based holding company in 2004.
If they are found guilty, they could be looking at spending the next five years, and, oh, about 20 collections or so, in the slammer!
That's gotta hurt, but at least it's not during the holidays right? At least for now…
On the plus side, however, the business partners are set to make it onto the most prestigious club in the world–the billionaire's club!
According to Forbes, each of them is worth over $1 billion dollars!
[Image via WENN.]
Tags: dolce and gabbana tax evasion trial, domenico dolce, forbes, stefano gabbana