The Madrid Prosecutor's Office requests four years and nine months in prison for Real Madrid coach Carlo Ancelotti for allegedly having defrauded the Treasury of more than one million euros in the fiscal years of 2014 (386,361 euros) and 2015 (675,718 euros).
As reported by the Public Ministry this Wednesday, the Prosecutor's Office charges him with two crimes against the Public Treasury, since although Ancelotti stated that he was a resident in Spain for tax purposes and reflected that his address was in Madrid, he only stated in his statements from the income the personal work remuneration received from Real Madrid and omitted the income corresponding to the exploitation of its image rights that it had transferred to other entities.
In its letter, the Prosecutor's Office emphasizes that "in order to avoid taxation on the income from said image rights", both those received by Real Madrid and other brands for various events, the coach went to a "complex" and " “confusing” network of trusts and companies filed to channel the collection of image rights.
In this way, Ancelotti would have been able to simulate the transfer of his image rights to entities "lacking real activity" with the aim of falsifying their real profits and "thus pursuing opacity in the face of the Spanish Public Treasury and the concealment of the real beneficiary." of the income from his image rights, so that neither he himself nor any of said companies would have to pay taxes on the large amounts received in Spain or outside our country".
Specifically, the Prosecutor's Office speaks of the company Vapia Limited that signed a contract with Ancelotti in July 2013 for 25,000,000 euros in exchange for the exploitation of its image rights. Just one day later, the Italian was appointed attorney of the company “granting him maximum powers of action.” And not only that, later the duration of the transfer of his image rights was also modified, going from 10 years to only three and lowering the purchase price to one million euros.
