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Real madrid coach, Carlo Ancelotti accused of Tax fraud

Boom RadioNG | March 6, 2024

Real Madrid coach, Carlo Ancelotti has been accused of tax fraud by Spanish state prosecutors claiming he used shell companies to hide parts of his income during his first time at the club about a decade ago.

This was disclosed in a statement released today accusing Ancelotti of two counts of tax fraud that could be punishable with four years and nine months in prison.

Carlo Ancelotti

The Italian coach was accused of fraud to the tune of 1 million euros in 2014 and 2015 by only declaring the income he received from Real Madrid, while omitting his income from image rights.

Prosecutors claimed he set up a “confusing” system of shell companies to hide his extra earnings stating that he allegedly used companies “lacking any real activity” based outside Spain “so that neither he nor the mentioned companies had to pay taxes on the large sums earned in Spain or outside our country”, the prosecutors said.

The 64-year-old manager coached Madrid from 2013 to 2015 before rejoining the club in 2021.

 

Dolupo Balogun

Written by Boom RadioNG

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