Posts Tagged tax evasion
For the second time this month, Marc Jacobs has had pieces from one of his collections stolen at an airport. Earlier in November, samples of the spring 2012 collection of his namesake brand were stolen en route to London. This time, five masked thieves broken into the Roissy-Charles de Gaulle airport in Paris, took down five employees, and got away with around 10 pallets of Louis Vuitton merchandise (telegraph.co.uk). French news agency AFP estimates that the stolen merchandise is worth between £257,000-300,000, which is around $343,600-401,100 USD.
In April this year, an Italian judge decided that Domenico Dolce and Stefano Gabbana would not have to appear in court under allegations of the company setting up a holdings company in Luxembourg to avoid high Italian taxes. However, that decision has been reversed and the company will have to appear in court due to an appeal made by Milan prosecutor Laura Pedio. No court date has been released.
The fate of the designers is unclear. The judge could find that there is insufficient evidence and dismiss the case; the company could settle outside of court and pay a fine; the trial could be short with few witnesses; or the trial could become large in scale, take several years to come to a decision, and the designers could face up to $1 billion in charges. (vogue.co.uk).