The news that Carlo Ancelotti, the manager of Real Madrid, is facing a possible jail term of up to five years for suspected tax fraud accounting to fictitious income claimed in the years 2014 and 2015 was reported earlier today.
In continuation of the narrative, El Mundo has stated that the Italian is prepared to face the charges against him in court since he has refused to comply with the prosecutor’s request to be placed in jail.
Putting money aside for the trial is something that the management has done, if anybody is interested. This money might be used to decrease the sentence in the event that the defendant is found guilty since the damage has been repaired.
Tell me about the story.
In an earlier story, we mentioned that the prosecution had accused Ancelotti of merely registering the money that he received from Real Madrid in the form of a wage for the years 2014 and 2015. Apparently, he did not reveal any additional money that he made from his image rights, according to someone.
In addition, they assert that Ancelotti established a complex network of fictitious businesses, which they find difficult to comprehend. During the process of filling up his tax papers, Ancelotti allegedly omitted the money that he received from using his picture in advertisements on purpose, according to the prosecution.
Because of this, it seemed as if he did not make as much, and it even showed that he had a negative income.
It is Ancelotti’s turn
Reacting to the series of events, Ancelotti has decided to go to trial to defend himself against the prosecutor’s accusation. For that, he has already paid back the money involved to potentially reduce his sentence if convicted.
It is to be noted that the prosecutor’s office in Madrid is seeking a sentence of four years and nine months in prison, accusing Ancelotti of defrauding just over a million euros between 2014 and 2015.
They claim he didn’t pay taxes amounting to €386,361 in 2014 and €675,718 in 2015. The prosecution is asking for two years and three months for the first charge and two and a half years for the second.
Meanwhile, the aforementioned outlet also quotes that last July, Judge Maria Inmaculada Lova concluded the investigation, holding Ancelotti responsible for not declaring income from advertising contracts.
Ancelotti argued that his tax residence in 2015 was not in Spain, which was accepted by the judge. But the Prosecutor’s Office successfully appealed against the investigating judge’s decision.