Carlo Ancelotti received a one-year prison sentence and a fine of nearly 400,000 after being convicted of tax fraud by a Spanish court. He was found guilty of defrauding the Spanish treasury of more than 1 million in undeclared earnings from his image rights during 2014 and 2015. Ancelotti used offshore shell companies to conceal the income, but believed his financial affairs were in order. He was convicted of the 2014 charge and cleared of the 2015 accusation, and, under Spanish law, will not serve time due to the nature of the offense.
Carlo Ancelotti has been sentenced to one year in prison and fined nearly 400,000 after being found guilty of tax fraud involving undeclared earnings from image rights.
The Spanish court ruled that Ancelotti concealed income from his image rights using offshore shell companies, leading to a conviction for failing to pay taxes in 2014.
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